United Trust Bank (UTB) Mortgages has implemented rate cuts of up to 100 basis points on select products and launched new 90% and 95% Loan-to-Value (LTV) mortgages for super-prime and prime-plus borrowers.
Home mortgage rates now start from just 5.24%, with new loans available up to a 95% LTV and a maximum loan size of £500,000.
There are also products available with an LTV of up to 90% and a maximum loan size of £750,000.
Two-year superprime fixed rates now start from 5.24%, while three- and five-year fixed rates start from 5.39%.
Meanwhile, prime plus two-year fixed rates will now start from 5.44% and three- and five-year fixed rates from 5.59%.
In addition, revised pricing has been introduced for several prime, near-prime and specialty residential mortgage products.
UTB commercial director of mortgages, BTL and bridging Andrew Ferguson says: “These latest changes reinforce our commitment to helping brokers do more business with UTB.”
“In addition to significantly reduced rates, we have introduced higher LTV products to help customers with smaller deposits access homeownership, while continuing to provide the relationship-oriented service and pragmatic underwriting of our broker partners.”
Meanwhile, Coventry has reduced selected intermediary rates for BTL and limited liability products.
The reductions are part of wider changes across all owner, BTL and limited companies.
Due to the cuts, the limited company BTL EPC has been locked in for a five-year term on 31.12.31 at an LTV of 75% without compensation. The LTV has been reduced by 11 basis points to 5.29%.
In addition, the five-year BTL purchase, fixed at 31.12.31, at a 75% LTV without fees, has been reduced by 8 basis points to 4.98%.
Jonathan Stinton, head of intermediary relations at Coventry Building Society, comments: “In a competitive market, these discounts will give agents and their BTL clients greater choice. And as we apply discounts to some of our Limited Company products, there are better options available for professional landlords too.”