Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
UTB and Coventry Lower Mortgage Rates, Launch New Products
United Trust Bank (UTB) Mortgages has reduced rates by up to 100 basis points across selected products and launched new 90% and 95% loan-to-value (LTV) mortgages for super prime and prime plus borrowers. Residential mortgage rates at UTB now start from 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 at UTB now start from 5.24%, while three- and five-year fixed rates start from 5.39%. Prime plus two-year fixed rates start from 5.44%, with three- and five-year fixed rates from 5.59%. Revised pricing has also been introduced across several prime, near prime, and specialist residential mortgage products.
Meanwhile, Coventry for intermediaries has cut selected rates across its buy-to-let (BTL) and limited company mortgage products. The limited company BTL EPC five-year fixed to 31 December 2031 at 75% LTV with no fee has been reduced by 11 basis points to 5.29%. The BTL purchase five-year fixed to 31 December 2031 at 75% LTV with no fee has been lowered by 8 basis points to 4.98%. These changes are part of wider adjustments across Coventry’s owner occupier, BTL, and limited company ranges.
These rate reductions and new product launches may be of interest to letting agents and inventory clerks monitoring mortgage trends and affordability for landlords and property investors.
Source: Mortgage Strategy