Castle Trust Bank has reduced its rates and simplified its range of houses in multiple occupation (HMO) and holiday let mortgages as part of an overhaul of its specialist buy-to-let range.
The revamp sees Castle Trust Bank remove the loading on its HMO and holiday let mortgages and reduces its rates which now start at 3.82%.
The lender has also cut the price of its bridge-to-let product, with the bridging rate available for 0.67% pcm up to 80% loan-to-value (LTV).
Molo cuts individual and limited company rates
In addition, Castle Trust Bank has launched a new buy-to-let exclusive, available for 3.95% up to 70% LTV through selected partners, including Brightstar Financial, Brilliant Solutions, Commercial Trust, Crystal Specialist Finance, First 4 Bridging, SPF, Sirius, Synergy Commercial, Watts Commercial and Vibe Financial Services.
It is also continuing its exclusive 5-year fixed rate product, with a 2-year ERC, priced at 4.5%, which 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.
Rob Oliver, sales director at Castle Trust Bank, 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.
“We are also continuing to support our distribution partnerships with a new Buy to Let exclusive available up to 70% LTV and the continuation of our 5-year fixed rate exclusive with a 2-year ERC.”