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United Trust Bank launches interest-only residential range

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  • 08/09/2020
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United Trust Bank launches interest-only residential range
United Trust Bank (UTB) has launched interest-only residential mortgage products for purchase and remortgages.

 

The range is available up to 75 per cent loan to value (LTV) or 70 per cent LTV for downsizing and affordability will be based on the interest-only monthly repayment. 

Two- and five-year fixed rates are available with no early repayment option and multiple repayment vehicles will be accepted. 

There is no minimum credit score for the products. UTB will also be flexible towards different property construction types. 

Buster Tolfree (pictured), commercial director – mortgages at United Trust Bank, said: “Within this interest-only residential mortgage product range, we believe we’ve created a compelling offer for those borrowers who may not fit the strict tick-box approach of many mainstream lenders. 

“Our common sense underwriting approach, pragmatic and rounded way of assessing borrower profiles and their security properties has made UTB an increasingly popular choice amongst specialist mortgage intermediaries and given additional options to those who may have found their choice of lenders somewhat restricted of late. 

 

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