United Trust Bank (UTB) has expanded its residential and buy-to-let (BTL) range to include new-build properties.
The move from UTB comes after a reprice, with rates starting from 4.84% for BTL and 5.99% for residential mortgages and a restructure and widening of its credit criteria with “new acceptable adverse rules” across its range.
UTB will accept, with evidence of an appropriate new-build warranty or certificate, off-plan purchases, subject to reinspection before completion, and a maximum of 5% new-build incentives, including builder’s deposit.
Other criteria and product features are the same as standard, with residential mortgages going up to a maximum LTV of 85% and maximum loan size of £1m, and BTL having a maximum LTV of 80% and loan size of £1.5m.
Buster Tolfree (pictured), director of mortgages at UTB, said: “This expansion of our product range gives brokers more choice for clients who want to buy a brand-new home but have a complex income or credit history blips.
“At UTB, we are all about helping people to fulfil their property dreams even if they don’t fit the criteria of mainstream lenders. I’m delighted that our common-sense and flexible approach to property types, incomes and historic adverse now extends to this important sector of the property market.”
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.