United Trust Bank has reduced rates across its standard and specialist buy-to-let ranges, with two-year fixed products now starting at 3.89%.
Standard buy-to-let two-year fixed rates now start at 3.89%, while specialist two-year fixed rates for houses in multiple occupation and multi-unit freehold blocks start at 4.04%.
Standard five-year fixed rates remain available from 5.69%, with specialist five-year fixed rates for HMOs and MUFBs starting at 5.99%.
UTB has also removed its minimum property ownership period for buy-to-let applications. For eligible HMO and MUFB cases, applicants are no longer required to have previous experience as a landlord.
The bank has increased its maximum exposure for portfolio landlords to 10 buy-to-let loans and £3 million per applicant.
Gene Clohessy, director of buy-to-let and bridging at United Trust Bank, said: “We’re building real momentum in buy-to-let and these rate reductions are another important step in making UTB an even stronger option for brokers and their landlord customers.
“Price is important, but brokers also need lenders with sensible criteria, experienced and knowledgeable people and the appetite to understand a case. We’ve already removed a number of unnecessary barriers, increased our portfolio exposure limits and created more flexibility around HMOs and MUFBs.
“Combining those changes with two-year fixed rates starting from 3.89% makes our proposition even more compelling.”