United Trust Bank (UTB) has lowered interest rates across its second charge rates by up to 0.7 per cent and has increased the maximum loan to income (LTI) for 80 to 85 per cent loan to value (LTV) products.
Five-year fixed rates on second charge products begin from 6.59 per cent, while three-year fixed rates are priced from 7.69 per cent.
Two-year fixed rates now start from 7.59 per cent.
The maximum LTI is now four for all 80 to 85 per cent LTV products.
The company recently lowered its product fees for loans under £25,000 to £395 to make the bank “even more completive on total cost of credit measures for smaller loans”.
Caroline Mirakian, sales and marketing director – mortgages at United Trust Bank, said: “UTB has been a driving force in the second charge market for nearly a decade and lower rates, lower fees and higher LTIs are fantastic news for brokers and customers to start the year with.
“As the economic outlook continues to improve, we believe 2024 will be a record year for the second charge market. We’re committed to offering brokers the best range of specialist mortgage products, pricing and service and doing all we can to help them deliver the excellent outcomes their customers deserve.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
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