Castle Trust Bank unveils new buy-to-let mortgages with instant terms

Img

The products, available as two, three and five-year fixed rates, can be switched automatically to a variable rate for a total term of 10 years

Castle Trust said there were instant terms available from the lender’s BDMs, who are now all back on the road and working at full capacity.

Barry Searle, managing director of mortgages at Castle Trust Bank, said: “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.”

Rates start at 4.19% for the two-year fixed rate, 4.39% for the three-year fixed rate and 4.59% for five-year fixed periods.