Castle Trust Bank unveils new range of BTL products
Castle Trust Bank has unveiled a range of buy-to-let (BTL) products up to 75% loan-to-value (LTV).
The products are available as 2, 3 and 5-year fixed rates, with an automatic switch to a variable rate for a total term of 10 years.
Rates start at 4.19% for 2-year fixed rate, 4.39% for 3-year fixed rate and 4.59% for 5-year fixed rate periods.
The maximum LTV across the range is 75% and brokers can get instant terms from Castle Trust Bank’s team of business development managers (BDMs), who are now working at full capacity.
The loans are available for a range of BTL investments including holiday lets, houses of multiple occupancy (HMOs), portfolio loans and property refurbishment.
Barry Searle, managing director of mortgages at Castle Trust Bank, said: “In today’s uncertain environment, certainty is more important than ever before, which is why we have worked hard to launch this range of products that provide brokers with the certainty they need, as our BDM will be able to provide instant terms.
“With our field sales team now all back, working at full capacity, we will be able to help even more brokers find the right solution for their investor clients.
“There is added certainty in that these products are available for a fixed rate period, with an automatic switch onto a longer term product, giving investors the flexibility and lending appetite of traditional bridging, but with 10-year terms that can provide them with additional peace of mind.
“We have already seen how popular this combined approach is from the demand for our bridge to let proposition and we expect similar demand for this new range.”