UTB brings maximum lending up to 80 per cent LTV

  • 12/11/2020
  • 0
UTB brings maximum lending up to 80 per cent LTV
United Trust Bank (UTB) has increased the maximum loan to value (LTV) on its first and second charge residential mortgages up to 80 per cent.


Its first charge residential products are available for purchase and remortgage with a maximum loan size of £500,000.  

There are two, three and five-year fixes with rates starting from 4.3 per cent and the maximum loan to income is 4.5. The primary income allowed must be from those in full time employment and clients need to be in their current role for a minimum of 12 months. 

The second charge loan is up to 80 per cent LTV with a maximum loan size of £250,000. It is available on two, three and five-year fixed terms with rates beginning from 5.95 per cent.  

United Trust Bank has also launched a near prime residential product up to 75 per cent LTV for purchase, remortgage, interest-only and unencumbered borrowers. 

The maximum loan size is £500,000 dependent on the mortgage plan. 

Defaults and county court judgments will be ignored if they are over a year old, as will unsecured credit commitments if they are being consolidated. 

Buster Tolfree (pictured), commercial director – mortgages, United Trust Bank, said: “Throughout this year we have released a wide range of new products, criteria and digital enhancements to help mortgage brokers write more business whilst still dealing with the challenges presented by Covid-19. 

“The feedback we received has been overwhelmingly positive and many brokers also suggested that a small increase in our maximum LTVs would give them additional opportunities.  

Although uncertainty surrounding the pandemic continues, UTB has decided to back brokers and their customers in these challenging times.  

We believe that the best way to get through this crisis is to work together, supporting brokers wherever possible, he added.

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