UTB increases LTVs for self-employed borrowers

  • 16/07/2020
  • 0
UTB increases LTVs for self-employed borrowers
United Trust Bank (UTB) has increased the maximum LTV for all self-employed applicants from 65 per cent to 75 per cent.


The change applies to all residential mortgage and second charge products.

However, existing restrictions continue to apply for those working within the travel, leisure and entertainment industries.

UTB may also require three months’, rather than one month, business bank statements during underwriting to evidence affordability and sustainability.

All other proof of income requirements remain the same.

Specialist Lending Solutions understands that UTB is likely to be making further changes to its proposition shortly.

United Trust Bank commercial director – mortgages Buster Tolfree (pictured) said: “Brokers have had it tough and we recognise the need to support them through these challenging times.

“This is the first of a raft of mortgage product, criteria and technology enhancements UTB will be implementing throughout the summer, all aimed at helping brokers to write more business.

“Watch this space for the official launch of our summer campaign next week.”



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