United Trust cuts buy-to-let rates by up to 0.40%

United Trust Bank (UTB) Mortgages for Intermediaries has announced rate reductions of up to 40bps across its entire buy-to-let product range.

All rates and 2%, 3%, 4% and 5% product fee options across UTB’s standard, specialist and non-standard plans have been updated.

In its standard range, two-year fixed rates now start from 5.69% and five-year fixes from 5.29%.

Specialist products, for HMOs and MUBs up to 10 rooms/units, start from 5.44% for five-year fixes and 5.69% for two-year fixes.

Holiday let rates have reduced to 7.25% fixed for two years and 7.05% fixed for five years.

The changes are live with immediate effect with applications sold on older products honoured, providing an offer is issued before the 31st October.

Buster Tolfree, director of mortgages at United Trust Bank, commented: “Last week’s base rate cut was welcome news for all mortgage borrowers, both in terms of reducing repayments but also helping to address the affordability gap. We have moved quickly to pass on the lower rates now available in the market and will follow up with more announcements on other products in UTB’s mortgage range soon.”