Castle Trust Bank extends rate discount
Castle Trust Bank has extended the 0.25% rate reduction on its term products until the end of the year.
Responding to demand from brokers, the bank will continue to apply the offer to all DIPs on term products issued by the close of business on 31 December.
This includes the lender’s Bridge to Let proposition, where a term plan is used for the exit route.
Castle Trust Bank offers buy-to-let (BTL) products up to 75% LTV, with instant terms available from the lender’s BDMs.
The lender currently offers BTL mortgages to UK residents, ex-pats, foreign nationals, SPVs and trading companies, with loans available for a variety of investments, including holiday lets, HMOs, portfolio loans and property refurbishment.
Barry Searle (pictured), managing director of mortgages at Castle Trust Bank, said: “In an uncertain environment, everybody wants certainty – and we’ve seen huge demand for the certainty that we can offer at Castle Trust Bank.
“From our BDMs offering instant terms on term products, through to our Bridge to Let proposition providing a guaranteed exit route – we’ve been delivering greater confidence to brokers and their clients.
“The 0.25% rate discount has proven really popular, but pleasingly our robust systems and processes, mean the significant increase in demand hasn’t impacted our ability to deliver a 48-hour services.
“So, to end a difficult year on a positive note, we’ve decided to extend the offer to the end of December to give brokers the opportunity to get the discount tied in on a case before the end of the year.”