United Trust Bank (UTB) Mortgages for Intermediaries has introduced rate reductions of up to 0.40% across its buy-to-let (BTL) product range.

These changes are live with immediate effect, with applications sold on older products honoured, providing an offer is issued before 31st October.

All rates and 2%, 3%, 4% and 5% product fee options across UTB’s standard, specialist and non-standard plans have been updated.

As part of its standard range, 2-year fixes start from 5.69% and 5-year fixes from 5.29%.

For specialist products, such as houses in multiple occupation (HMO) and multi-unit freehold blocks (MUBs) up to 10 units, 2-year fixes start from 5.69% and 5-year fixes from 5.44%.

Lastly, for non-standard and holiday let products 2-year fixes start from 7.25% and 5-year fixes from 7.05%.

Buster Tolfree, director of mortgages at United Trust Bank, said: “Last week’s base rate cut was welcome news for all mortgage borrowers, both in terms of reducing repayments but also helping to address the affordability gap.

“We have moved quickly to pass on the lower rates now available in the market and will follow up with more announcements on other products in UTB’s mortgage range soon.”