Marcus Dussard

Castle Trust introduces 10-year term loan

Castle Trust has launched TermTen, a 10-year term loan which is fixed for five years before reverting to the lender's standard variable rate (SVR).

The product is available for buy-to-let, with serviced interest and a maximum LTV of 75% (80% for loans of £500,000 or less).

Annualised rates start at 4.49% with no early repayment charges (ERCs) payable after five years.

The minimum loan size on TermTen is £50,000, with the maximum set at £15m.

Marcus Dussard, sales director at Castle Trust (pictured above), said: “The market is changing, and while there remain plenty of opportunities for investors, those opportunities tend to be longer term — with a flat property market and stagnant house prices providing little for short-term investors to get excited about.

“TermTen has been developed as a direct response to this demand from investors, providing them with the safety of a 10-year term and the flexibility to refinance penalty-free after five years.”

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