The products are available as 2-, 3- and 5-year fixed rates, with an automatic switch to a variable rate for a total term of 10 years. Rates start at 4.19% for 2-year fixed rate, 4.39% for 3-year fixed rate and 4.59% for 5-year fixed rate periods.
The maximum LTV across the range is 75% LTV and brokers can get instant terms from Castle Trust Bank BDMs.
Castle Trust Bank offers buy to let mortgages to UK residents, ex-pats, foreign nationals, SPVs and trading companies. The loans are available for a range of BTL investments, including holiday lets, HMOs, portfolio loans and property refurbishment.
Barry Searle, Managing Director of Mortgages at Castle Trust Bank, says:
“In today’s uncertain environment, certainty is more important than ever before, which is why we have worked hard to launch this range of products that provide brokers with the certainty they need, as our BDM will be able to provide instant terms. With our field sales team now all back, working at full capacity, we will be able to help even more brokers find the right solution for their investor clients.
“There is added certainty in that these products are available for a fixed rate period, with an automatic switch onto a longer term product, giving investors the flexibility and lending appetite of traditional bridging, but with 10-year terms that can provide them with additional peace of mind. We have already seen how popular this combined approach is from the demand for our Bridge to Let proposition and we expect similar demand for this new range.”
