United Trust Bank (UTB) Mortgages has made rate reductions of up to 100 basis points across selected products and the launch of new 90% and 95% loan-to-value (LTV) mortgages for super prime and prime plus borrowers.
Residential mortgage rates now start from just 5.24%, with new lending available up to 95% LTV and maximum loan sizes of £500,000.
Products are also available up to 90% LTV with maximum loan sizes of £750,000.
Super prime two-year fixed rates will now start from 5.24%, while three- and five-year fixed rates will start from 5.39%.
Meanwhile, prime plus two-year fixed rates will now start from 5.44% and three- and five-year fixed rates start from 5.59%.
In addition, revised pricing has been introduced across several prime, near prime and specialist residential mortgage products.
UTB commercial director of mortgages, BTL and bridging Andrew Ferguson says: “These latest changes reinforce our commitment to helping brokers place more business with UTB.”
“Alongside significantly reduced rates, we’ve introduced higher LTV products to help customers with smaller deposits access home ownership whilst continuing to provide the relationship-led service and pragmatic underwriting our broker partners value.”
Meanwhile, Coventry for intermediaries has cut selected rates across BTL and limited company products.
The reductions are part of wider changes across all its owner occupier, BTL and limited company ranges.
The cuts see the limited company BTL EPC five-year fixed to 31.12.31 at 75% LTV with no fee has been reduced by 11bps to 5.29%.
In addition, the BTL purchase five-year fixed to 31.12.31 at 75% LTV with no fee has been lowered by 8bps to 4.98%.
Coventry Building Society head of intermediary relationships Jonathan Stinton comments: “In a competitive market, these reductions will help give brokers and their BTL clients greater choice. And because we’re applying reductions to some of our Limited Company products, there are better options available to professional landlords too.”
