United Trust Bank Mortgages has made rate reductions of up to 84 basis points across a selection of its second charge product range.
Prime-plus five-year fixed rates will now start from 5.59% while five-year fixed no early repayment charge (ERC) prices will start from 6.35%.
Prime plans five-year fixed rates will start from 5.84% and five-year fixed with no ERC will be from 6.50%.
For near-prime products, five-year fixed rates will begin at 6.99% and five-year fixed rates with no ERC will start from 7.35%.
United Trust Bank director of mortgages Buster Tolfree says: “These lower rates combined with all our recently introduced product and criteria enhancements are great news for brokers and customers looking to take advantage of this very quick and versatile product.”
“We continue to support the specialist market with innovative products, competitive pricing and attractive criteria, encouraging brokers to add seconds to their regular toolkit and growing the second charge market.”
Elsewhere, Masthaven Finance has made a series of rate reductions across its regulated and non-regulated bridging finance range.
For first charge regulated residential bridging, rates have been lowered to 0.84% up to 65% LTV, 0.89% up to 70% LTV, and 0.99% up to 75% LTV.
For large, regulated bridging loans for borrowers with clean credit and facilities exceeding £750,000, prices have also been trimmed, with rates now starting at 0.79% up to 60% LTV and 0.84% up to 70% LTV.
The minimum rate on both regulated and non-regulated loans below £100,000 has been reduced to 0.99%, down from 1.09% for regulated loans and 1.04% for non-regulated bridging loans.
Within the non-regulated residential first charge range, a new price band has been introduced, with loans now available from 0.79% up to 50% LTV.
In addition, Masthaven has announced it will now consider renovation and light development works on semi-commercial property.
The lender has also reduced the rate on its development exit product from 0.99% to 0.89%.
Masthaven Finance sales director Jim Baker says: “These updates demonstrate Masthaven Finance’s commitment to giving brokers genuinely competitive products that meet the needs of today’s clients.”
