In This Article
Who are Castle Trust Bank?
Castle Trust Bank was launched in 2012 and became fully authorized in 2020. They offer a range of services including lending, banking, and investments.
Their values are a key part of their culture, their values are customers first, forward-thinking, professional pride, achievement together and being open and transparent.
In terms of banking, Castle Trust offers a number of services including a current account, a savings account, and a business account.
In terms of investments, Castle Trust offers a number of services including a managed portfolio service and a self-invested personal pension.
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Castle Trust Bank mortgages
Castle Trust Bank recognise that many mortgage customers have high-quality assets but unconventional income, making it difficult for them to borrow at reasonable rates and on sensible terms from traditional lenders.
They have designed their products to help buy to let investors, high net-worth individuals, and business owners.
The bank can take into account cash flow and net worth to make flexible, logical decisions that best suit their customers’ needs.
They aim to regularly review their product range and criteria, to make sure they’re offering the best possible solutions for both personal and commercial mortgages.
Castle Trust offers mortgages for a variety of purposes including debt consolidation, home improvement, and wedding finance.
For commercial mortgages, Castle Trust offers loans for a range of purposes including business expansion and property development.
Their mortgage range includes:
- Commercial mortgages
- Buy to let mortgages
- Limited company buy to let mortgages
- Expat & foreign national mortgages
- Holiday let mortgages
- Refurbishment mortgages
- Development exit mortgages
- House of Multiple Occupancy (HMO) mortgages
- Multi-Unit mortgages
- Development finance
- Bridging loans
They also offer a bridge-to-Let product which is designed specifically to help landlords who are looking to renovate a property that is currently not mortgageable and then remortgage to a buy to let product. This product offers a guaranteed exit to a buy to let mortgage, which is underwritten and agreed at the outset. The bridge to let product provides confidence and certainty that you’ll have an exit option off of the bridging loan, should you need it.
Are Castle Trust Bank rates cheap?
As Castle Trust Bank aim to offer products to those that do not fit with traditional banks their mortgage rates may be slightly higher than those from high street lenders. However, they aim for their rates to their target market.
When analysing the mortgage product, it is important to review the whole market, your current and future situation to decide if the mortgage is competitive and suitable.
With any mortgage, it’s important to review the initial interest rate, revert rate, fees charged, flexibility of the product and so on.
A mortgage broker can review the market and the full product features to recommend the most suitable deal for you. A mortgage broker will also have access to exclusive intermediary-only lenders.
Can I change my rate with Castle Trust Bank?
If you are an existing customer of Castle Trust Bank and your initial rate is coming to an end, you may not be able to switch your rate with them.
If you would like to look at a new deal you should speak with an independent mortgage advisor who can help you with remortgaging to another lender.
Independent mortgage advisors can advise on all products available in the market and find the best option for you, which may be better than staying with your current lender.
How long will the mortgage process take with Castle Trust Bank?
The time it takes to get a mortgage offer from Castle Trust Bank can vary on a case-by-case basis.
The product selected can change the speed to offer, for example a bridging loan can be completed quicker than a buy to let mortgage.
However, in general the average time from mortgage application to offer is approximately around four weeks.
A mortgage broker experienced in working with Castle Trust Bank could get a mortgage offer quicker than you can going direct as they will know what information is required and can chase if the application has stalled.
Castle Trust Bank declined me a mortgage; what do I do now?
If you’ve been declined a mortgage from Castle Trust Bank, you should find out what the reason for the decline was. Reasons could be adverse credit, complex income, or any specific criteria about your situation or the property.
You should then speak to a mortgage advisor as they could help you find another lender willing to give you a mortgage. Expert mortgage advisors get to know which lender is best suited for different situations.
If you would like to check your credit profile you can visit the website of Experian, Equifax, Transunion or Check My File, which offers a free trial.
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Conclusion
Castle Trust Bank is a forward-thinking company that offers a range of services including lending, banking, and investments.
They offer products specifically designed to help buy to let investors, high net-worth individuals, and business owners. Their products are flexible and logical, and they aim to make decisions that best suit their customers’ needs.
As Castle Trust Bank aim to offer products to those that do not fit with traditional banks their mortgage rates may be slightly higher than those from high street lenders. However, they aim for their rates to be competitive to their target market.
The time of the mortgage process with Castle Trust Bank can vary on a case-by-case basis. The product selected can change the speed to offer, for example, a bridging loan can be completed quicker than a buy to let mortgage. However, in general, the average time from mortgage application to offer is approximately around four weeks.
A mortgage broker experienced in working with Castle Trust Bank could get a mortgage offer quicker than you can go direct as they will know what information is required and can chase if the application has stalled.
If you’ve been declined a mortgage from Castle Trust Bank, you should find out what the reason for the decline was. Reasons could be adverse credit, complex income, or any specific criteria about your situation or the property. You should then speak to a mortgage advisor as they could help you find another lender willing to give you a mortgage. Expert mortgage advisors get to know which lender is best suited for different situations.
If you would like to speak with a mortgage advisor, please fill out the contact form below. I NEED ADVICE will connect you with a mortgage advisor who can review all of the available options and recommend the right mortgage for you.
They are experienced, which can boost your chances of being approved.
