Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
Landlord Mortgage Rates Fall Across Lenders
Landlords seeking to fix their borrowing costs are now being offered lower mortgage rates across a range of products. According to Property118, reductions have been made by several lenders, including Paragon Bank and United Trust Bank (UTB).
Paragon Bank has cut fixed rates by 15 basis points across its Core and Tailored ranges, with pricing now starting from 3.40%. United Trust Bank has also reduced its two-year fixed rates by up to 50 basis points.
These changes apply to standard, specialist, and large portfolio mortgage products. The reductions may be relevant for letting agents and inventory clerks whose clients are considering new buy-to-let mortgage options or refinancing existing properties.
Source: Property118