Fixed rate, up to 80% LTV and NO monthly payments
Castle Trust launches a new fixed rate product. We have long been able to provide access to Castle Trust’s innovative products at first4commercial. Such as their Index profit share mortgage, which tracks the national Halifax House Price Index and the Buy to let equity loan product, which shares in the equity growth of a property.
Castle Trust have now launched a new Flexible Zero Mortgage product which will allow clients to release equity from their buy to let properties or their own residence on a second charge basis (as long as this is for commercial/business use or the client is a High Net Worth individual).
The new product is for a loan of up to 5 years and to a maximum 50% LTV (80% gross when taking into account the rolled up interest for the term). There is also no upper age limit for applicants. Minimum loan is £25,000 and the minimum property value is £250,000.
A fixed rate of interest is set at the outset of the loan and interest is rolled up onto the advance and it is paid at redemption, which means there are NO MONTHLY PAYMENTS to make.
This allows clients to release equity to use as they wish with no monthly payments to make. The loan plus interest is repaid at the end of the selected term.
For loans secured on BTL properties there are no minimum income requirements either so there is another advantage to using these products.
All the products provided by Castle Trust are bespoke and therefore the criteria listed above is indicative only and may change depending on individual needs and circumstances.
Get in touch with one of the team today for full details and a tailored illustration to see if this is suitable for you or your clients.
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