Castle Trust amends criteria in new year enhancements

Jake Carter

January 6, 2022

Castle Trust Bank has cut rates, extended offers and improved valuation criteria as part of a range of new year proposition enhancements.

The specialist buy-to-let (BTL) lender has cut its 5-year fixed TermTen product by 0.59% to 4.15%, on products up to 75% loan-to-value (LTV) with early repayment charges (ERCs),

In the same range, Castle Trust Bank has also maintained its special rate of 3.95% up to 70% LTV and 4.50% up to 75% LTV on 5-year fixed rates, with ERCs.

In addition, it has extended its cashback offer of up to £5,000 on valuation fees across its entire product range, from the end of February until the end of April 2022.

The lender has also made improvements to its valuation criteria, including that all property portfolios will now be assessed on open market value, freehold blocks up to 20 units will be assessed on aggregate market value, and freehold blocks greater than 20 units will be assessed on investment block value.

Rob Oliver (pictured), sales director at Castle Trust Bank, said: “At Castle Trust Bank, we understand that a good specialist buy-to-let proposition is a combination of factors, including rate, service, criteria and incentives, and we are always looking into how we can improve our proposition for brokers and their clients.

“Our new year enhancements include a significant rate reduction on one of our most popular products, the extension of great rates we had previously introduced as special offers, and we are continuing our valuation cashback offer until the end of April.

“This has already been in high-demand and we know that the current environment and prevalence of the Omicron variant means many businesses in the property industry are currently working under capacity, which is prolonging the process for many transactions.

“So, it seems only right that we extend this offer to give as many customers the opportunity to benefit from it as possible.”

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