The new option — available for first-time and established landlords — offers loans between £50,000 and £1.5m at up to 80% LTV, priced at 6.19% with a 4% product fee.
It caters for standard and specialist BTL properties, including high-rise flats and those over commercial premises, HMOs, MUFBs and holiday lets.
This comes after the lender made its online DIP process available for all its BTL products, in order to accelerate the application journey for brokers.
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Mike Walters, sales director – mortgages at UTB (pictured above), said: “The BTL market is adapting to the sharp increase in the base rate and we are supporting our broker partners and landlord borrowers with new competitive products and quick turnarounds to help mitigate ICR challenges.
“Brokers have been very positive about our BTL offering which caters for individual, portfolio, limited company SPV and first-time landlords with specialist requirements, such as unusual property types — including flats that are high rise and over commercial premises — HMOs, MUFBs and holiday lets.
“Our recent broker portal enhancements have enabled us to welcome many new landlord customers to UTB and we are sure this attractive fix will encourage even more.”
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