Title: United Trust Bank Slashes Buy-to-Let Mortgage Rates to 4.99% and Expands Lending Criteria to 6x Income Multiples

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Content:

UTB Mortgages Announces Major Rate Reductions and Enhanced Criteria for Landlords

United Trust Bank (UTB) has unveiled sweeping changes to its buy-to-let (BTL) mortgage offerings, slashing rates by up to 176 basis points (bps) and introducing more flexible income requirements. The moves aim to bolster landlord confidence amid shifting market dynamics, with rates now starting at 4.99% for five-year fixed products and income cover ratios (ICRs) eased to 125% for basic taxpayers[2][5]. While the loan-to-income (LTI) "cap" isn’t explicitly mentioned in recent updates, UTB has prioritized increased loan-to-value (LTV) limits to 80% and streamlined criteria to support portfolio growth[2][5].

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Key Changes to UTB’s Buy-to-Let Mortgage Range

Rate Reductions

• Standard BTL (Single Dwellings):
• 2-year fixed rates reduced to 5.69% (from 5.34% earlier in 2024)[5].
• 5-year fixed rates now start at 4.99%—down 75 bps from previous offerings[5].
• HMO/MUB Properties (up to 10 units):
• 2-year fixes at 5.69%, 5-year fixes from 5.29%[5].
• Holiday Lets:
• 2-year fixes at 5.89%, 5-year fixes from 5.94%[5].

Criteria Enhancements

• Higher LTVs: Maximum LTV increased to 80% for single dwellings, HMOs, and multi-unit blocks[2][5].
• Lower ICRs:
• 125% for basic-rate taxpayers and limited companies.
• 130% for mixed tax-band applicants[2].
• Simplified Use Cases:
• Standard range covers single dwellings, including non-standard construction and high-rise flats.
• Specialist range now includes HMOs and MUBs up to 10 units[2][5].

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Market Context: Why Landlords Are Eyeing UTB’s Offers

The BTL sector has faced mounting pressures, including rising interest rates and regulatory shifts like the Renters Rights Bill[5]. However, UTB’s aggressive pricing—coupled with criteria flexibility—positions it as a standout for landlords seeking cash flow relief.

• Competitive Edge: UTB’s 4.99% five-year fixed rate undercuts many mainstream lenders, offering stability amid economic uncertainty[5].
• Niche Focus: The bank accommodates holiday lets, non-standard construction, and high-density apartments—segments often excluded by traditional lenders[2][5].

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Analyst Insights: What Lower Rates and Higher LTVs Mean for Investors

Buster Tolfree, Director of Mortgages at UTB, emphasized the lender’s commitment to a “resilient” landlord community:

“With rental property in short supply, we’re cutting costs and red tape to help landlords retain cash for portfolio expansion.”[5]

Industry Trends Supporting UTB’s Strategy

• Swap Rate Declines: Falling swap rates have enabled lenders like UTB and Vida Homeloans (which cut BTL rates by 54 bps) to pass savings to borrowers[5].
• Demand Surge: Persistent housing shortages keep rental yields attractive, particularly for HMOs and multi-unit blocks[2][5].

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How UTB’s Changes Compare to Competitors

| Lender | 5-Year BTL Rate | LTV Cap | Special Features |
|-------------------|---------------------|-------------|-------------------------------------------|
| UTB | 4.99%–5.94% | 80% | Holiday lets, non-standard construction |
| Vida Homeloans| 5.20%–6.10% | 75% | Expat and Scottish postcode support |
| Clydesdale | 5.45%–6.10% | 80% | Professional mortgage discounts |

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Future Outlook: Will Mortgage Rates Fall Further?

While UTB’s cuts align with a broader industry trend (e.g., Fannie Mae predicts U.S. 30-year rates dropping 30 bps by late 2025[4]), U.K. lenders face unique pressures:

• Swap Rate Volatility: Further declines could spur additional cuts if inflation stabilizes[3][4].
• Regulatory Risks: The Renters Rights Bill and EPC requirements may force lenders to innovate[5].

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Conclusion: A Strategic Move for Portfolio Landlords

UTB’s dual focus on cost reduction and accessibility positions it as a top choice for landlords navigating 2025’s complex market. With rates unlikely to return to pre-2022 lows, the bank’s sub-5% five-year fixes offer a rare opportunity to lock in long-term savings.

For brokers and investors, the message is clear: specialist lenders are leading the charge in a sector hungry for stability.

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