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United Trust Bank raises maximum loan size for resi first charges

  • 16/09/2021
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United Trust Bank raises maximum loan size for resi first charges
United Trust Bank (UTB) has increased its maximum residential first charge mortgage size to £750,000.


Previously the lender capped its maximum loan size at £500,000. 

The first charge residential range now includes lending up to 85 per cent loan to value (LTV) with two, three and five-year fixed rates beginning from 3.8 per cent. 

The lender will accept first-time buyers and the maximum loan to income multiple for amounts over £500,000 will be 4.5. 

For interest-only borrowing, the maximum LTV is 70 per cent for downsizing and 75 per cent for all other repayment vehicles. A minimal annual income of £50,000 is required. 

Buster Tolfree (pictured), director – mortgages at United Trust Bank, added: “We’ve seen increasing demand for larger mortgage sizes catering for customers with circumstances which don’t fit the high street’s restrictive credit criteria.  

“This increase to a £750,000 maximum loan size demonstrates the confidence we have in our more pragmatic approach to underwriting which is about looking at a customer’s overall situation rather than dismissing them for a blip or two on their credit history.” 

He added: “This increase, together with our recent introduction of online DIPs and auto-underwriting, will further help brokers to place and complete more complex cases quickly and successfully.” 

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