Castle Trust Bank joins Paradigm lender panel

Paradigm members will secure access to Castle Trust’s specialist range of holiday property and residential buy-to-let products.

As long as clients have a UK mortgage footprint, Castle Trust will consider applications up to 80 per cent gross, day one loan-to-value (LTV) from first-time landlords, limited companies, expatriates, and foreign nationals for buy-to-let purchase and refinance. The lender also considers applications from holiday lets, refurbishments and multiple units – including those held under a single freehold.

Richard Howes (pictured) director of mortgages at Paradigm Mortgage Services, said: “We are very pleased to be able to bring on board Castle Trust. Our adviser members respond to creativity and flexibility in this space, and Castle Trust fit this bill, with a focus particularly in holiday property, residential buy-to-let lending and, coupled with the ability to link up with bridging options, means landlords and investors are well-catered for.

Rob Oliver, sales director at Castle Trust, added: “Paradigm is an excellent mortgage club and we’re really looking forward to working with its members and increasing our distribution footprint through this relationship allowing their DA firms access to our innovative product range.”

Castle Trust offers ten-year term mortgages up to 75 per cent (loan to value) LTV through its term ten product with initial fixed rates for two or five years, and the ability to provide a guaranteed exit option on its bridging loans by linking them to its term ten product, through the bridge-to-let option, should it be needed.

Last week, Castle Trust simplified its houses in multiple occupation (HMO) and holiday let range as well as cut rates across select products. The lender removed loading, where an increased cost or additional rate is applied to certain products, from its HMO and holiday let range.

The provider also cut rates across its product offering, with rates from 3.82 per cent.