Castle Trust, the short term, bridging finance and specialist finance provider, has cut rates and simplified its HMO and holiday let mortgages. This forms part of a wider overhaul of its buy-to-let range.
Rates for HMO and holiday let mortgages now start at 3.83% and the loading has been removed. The bridge-to-let product has also had a rate reduction, with the bridging rate now available for 0.67% pcm up to 80% LTV.
The lender has introduced a new BTL exclusive, which is offered for 3.95% up to 70% LTV, available through selected partners. Castle Trust is also continuing its exclusive five-year fixed rate product, priced at 4.5% with a two-year ERC, through selected partners.
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.”
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Castle Trust recently provided a £13.2m development loan to Laner Ltd, for Barking Dog Development’s scheme in east London.