UTB Mortgages cuts two-year BTL rates up to 50pbs

United Trust Bank has reduced rates by up to 50bps on two-year fixed products across its standard and specialist BTL ranges.

The new rates start from 3.89% and are available immediately.

New rates include:

·        standard BTL: two-year fixed rates from 3.89%

·        specialist BTL – HMO and MUFB: two-year fixed rates from 4.04%

Standard five-year fixed rates remain available from 5.69%, with specialist HMO and MUFB five-year fixed rates from 5.99%.

The latest price drops follow several enhancements to UTB’s BTL lending criteria.

These include removing the minimum property ownership period requirement for BTL and, for eligible HMO and MUFB applications, removing the requirement for previous landlord experience.

UTB has also increased maximum exposure for portfolio landlords to 10 BTL loans and £3m per applicant, further increasing the options available to professional landlords looking to grow and manage their portfolios.

Gene Clohessy, director of BTL and bridging at United Trust Bank (pictured above), commented: “We’re building real momentum in BTL and these rate reductions are another important step in making UTB an even stronger option for brokers and their landlord customers.

“Price is important, but brokers also need lenders with sensible criteria, experienced and knowledgeable people and the appetite to understand a case.

“We’ve already removed a number of unnecessary barriers, increased our portfolio exposure limits and created more flexibility around HMOs and MUFBs.

“Combining those changes with two-year fixed rates starting from 3.89% makes our proposition even more compelling.”