You are here: Home - News -

United Trust Bank enters purchase market with broker exclusive

by:
  • 07/10/2019
  • 0
United Trust Bank enters purchase market with broker exclusive
United Trust Bank (UTB) has launched a new range of first charge residential house purchase mortgage products designed for customers underserved by mainstream mortgage lenders.

 

The new products have been designed for borrowers whose circumstances do not fit the credit score-led underwriting processes employed by high street and other mainstream lenders.  

They have been made available exclusively through advisers.

UTB has combined technology and specialist underwriting with the aim of providing decisions based on the merits of each individual application.  

The range has been created with no minimum credit score requirement, to accept a wide range of property and construction types and to be open to borrowers who are self-employed and/ or have adverse credit history.  

The lender said it will verify the identify of mortgage applicants by using the UTB Nivo facial recognition app, which launched last month. 

UTBs new range included two-year fixed rates from 3.8 per cent and five-year fixed rates from 3.95 per cent.

The lender also unveiled a Bank of England Lifetime Tracker from 3.35 per cent with a maximum 85 per cent loan to value. The tracker was made available to existing homeowners with no application fee. 

UTB stated that its new range was the next step in becoming a “go-to specialist mortgage lender,” with products suited to customers in most circumstances not catered for by mainstream lenders. 

Buster Tolfree (pictured), commercial director of mortgages at United Trust Bank, said: “These residential house purchase mortgages fill an obvious gap in our suite of products.

“The launch signals our intent to become a specialist lender with a range of products suitable for customers in most property buying, remortgaging or capital releasing scenarios. We now cater for all four residential mortgage product verticals. 

“There’s more to come from UTB over the next 12 months as we continue to expand our product range, widen our distribution and digitise the process,” Tolfree added. 

There are 0 Comment(s)

You may also be interested in