Castle Trust Bank has relaunched its TermTen BTL product range.
The revamped proposition — available at up to 75% LTV — now offers two arrangement fee options, both of which have a 1% redemption cost.
The first option has an interest rate of 7.15%, with an arrangement fee of 4% payable at completion.
Meanwhile, the second option is available at 7.25%, with an arrangement fee of 3.5% payable at completion.
TermTen also enables brokers to secure the rate for 120 days once a credit-backed DiP has been issued and a booking fee of 0.07% of the net loan amount has been paid — this fee is deducted from the arrangement cost when the deal is completed.
The new product offers loans for HMOs, standard BTL properties, holiday lets, portfolios and MUFBs.
The rate is fixed for five years, with ERCs payable only during the fixed-rate period.
Anna Lewis, commercial director at Castle Trust Bank (pictured above), said: “Our new TermTen range gives property investors the certainty of locking into the rate they are quoted during a DiP, and offers a choice of booking fee options, which allows brokers greater control in selecting the best solution for their clients.
“Alongside our dedicated bridging proposition, our new TermTen products will help brokers continue to meet the needs of property investors, delivering flexibility, choice and certainty, even in this challenging environment."
