Castle Trust Bank removes loading for HMO and holiday lets and cuts rates

The lender has removed loading, where an increased cost or additional rate is applied to certain products, from its HMO and holiday let range.

Castle Trust Bank has also cut rates across its product offering, with rates now starting from 3.82 per cent.

It has also brought out a buy-to-let (BTL) exclusive at 3.95 per cent up to 70 per cent loan to value (LTV). The product is available via Brightstar Financial, Brilliant Solutions, Commercial Trust, Crystal Specialist Finance, First 4 Bridging, SPF, Sirius, Synergy Commercial, Watts Commercial and Vibe Financial Services.

The lender is continuing its exclusive five-year fixed rate product, which is priced at 4.5 per cent and comes with early repayment charges for the first two years.

This product is available through Brightstar Financial, Commercial Trust, Complete FS, Crystal Specialist Finance, First 4 Bridging, Positive Lending, Rangewell, SPF, Sirius, Synergy Commercial, The BTL Broker, Watts Commercial, Vibe Financial Services and Yellowstone Finance.

Castle Trust Bank’s sales director Rob Oliver said: “It’s now more than a year since we became a bank, and one of the many advantages is that it gives us greater flexibility in our product development and pricing.

“We have already seen the popularity of our HMO, holiday let and bridge to let products amongst brokers and we hope to make them even more attractive to a wider group of customers, with even keener pricing.”

He added that the lender continued to support its distribution partnership with the BTL exclusive and the extension of its five-year fixed rate exclusive.