Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

UTB Reduces Buy-to-Let Rates and Eases Criteria for Landlords

United Trust Bank (UTB) has announced rate reductions across its standard and specialist buy-to-let (BTL) mortgage ranges, with two-year fixed rates now starting from 3.89%. The lender has also removed the minimum property ownership period requirement for BTL applications.

UTB’s new rates include reductions of up to 50 basis points on two-year fixed products. For specialist BTL products, such as houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB), two-year fixed rates now start from 4.04%. Five-year fixed rates for specialist HMO and MUFB products remain available from 5.99%.

In addition to the rate cuts, UTB has increased the maximum exposure for portfolio landlords. Landlords can now have up to 10 BTL loans and a maximum of £3 million per applicant with the bank.

These changes are designed to give brokers greater flexibility and make it easier and quicker to place and progress cases. The updates may be of interest to letting agents and inventory clerks working with landlords who are expanding or refinancing their portfolios.