UTB cuts rates across range

United Trust Bank (UTB) has reduced rates across its standard and specialist buy-to-let (BTL) ranges by up to 50 basis points on two-year fixed products.

Rates now start from 3.89%.

The reductions follow a series of recent criteria enhancements including, the removal of the minimum property ownership period requirement for BTL, designed to give brokers greater flexibility and make it easier and quicker to place and progress cases.

Highlights from the rate cuts include:

Specialist BTL – houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB) – two-year fixed rates from 4.04%.

Specialist HMO and MUFB five-year fixed rates remain available from 5.99%.

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UTB has also increased maximum exposure for portfolio landlords to 10 BTL loans and £3m per applicant.

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