In the TermTen range, the five-year fixed rate at 75% LTV has been cut to 4.15%. The special rates in this range for the five-year fix of 3.95% up to 70% LTV and also 4.50% up to 75% LTV, with a two year ERC, are being maintained.
The cashback offer that was introduced at the end of last year, up to £5,000 cashback plus VAT on valuation fees, has now been extended until the end of April this year.
In addition, the lender has enhanced its valuation criteria. All property portfolios are now being assessed on open market value, freehold blocks of up to 20 units are assessed on aggregate market value and those with over 20 units are now assessed on investment block value.
Rob Oliver, sales director at Castle Trust Bank, said: “At Castle Trust Bank, we understand that a good specialist buy-to-let proposition is a combination of factors, including rate, service, criteria and incentives, and we are always looking into how we can improve our proposition for brokers and their clients.
“Our new year enhancements include a significant rate reduction on one of our most popular products, the extension of great rates we had previously introduced as special offers, and we are continuing our valuation cashback offer until the end of April. This has already been in high-demand and we know that the current environment and prevalence of the Omicron variant means many businesses in the property industry are currently working under capacity, which is prolonging the process for many transactions. So, it seems only right that we extend this offer to give as many customers the opportunity to benefit from it as possible.”
Original article featured here…
In December, Castle Trust announced the new cashback offer, up to £5,000 cashback plus VAT on valuation fees, offered across the whole product range.