UTB mortgage loan book passes £1bn for first time

The specialist lender said it also expected its mortgages division to report a 24 per cent growth in new business this year. 

UTB launched in 2016 with a range of second charge mortgages and in 2020, expanded its offering to first charge products for purchase, remortgage and unencumbered properties. It later launched a specialist buy-to-let range in 2022. 

The lender appointed Caroline Mirakian as sales and marketing director – mortgages earlier this year, with an aim to build on its distribution focusing on clubs, networks and packagers. It is through its partnerships with intermediaries that the lender expects to see a growth in business. 

Buster Tolfree (pictured), director of mortgages at United Trust Bank, said: “This is a momentous milestone for the bank and a fantastic achievement for the mortgage team who, in my view, are one of the best in the industry. 

“We couldn’t have achieved £1bn without the support of our amazing broker partners. Many of them have helped us to develop our proposition along the way, testing new tech and processes and giving honest feedback. This collaboration and our commitment to continually improving mortgage journeys for brokers and customers have gained us some very good and loyal friends.”  

Tolfree added: “We have built our reputation on being a dependable specialist mortgage lender, that is happy to take a view on cases which fall outside of norm, and who is committed to supporting brokers through whatever the market and economy can throw at us. Although the outlook may be uncertain, we’re here for the long term and excited about what the future holds.”