United Trust Bank makes rate reductions and amends offering

Rate reductions have been made to its residential, buy-to-let and second charge products.  

Residential rates now begin from 7.19 per cent for a two-year fixed product at 60 per cent loan to value (LTV). Meanwhile, its buy-to-let rates have been cut by as much as 0.3 per cent and start from 5.89 per cent for a two-year fix at 65 per cent LTV within its standard range. 

It has also expanded its buy-to-let range to include two, three, four and five per cent product fee options. 

UTB has launched lifetime tracker mortgages which start from 2.64 per cent above the base rate and are available on its purchase, remortgage, interest only, mortgage prisoner and unencumbered products. 

Its second charge lifetime tracker rates have also been cut by up to 0.75 per cent and now start from 3.14 per cent above the base rate. 

Buster Tolfree (pictured), director of mortgages at UTB, said: “It’s not easy out there for brokers at the moment and we’re always looking for ways to support our introducers and help them to keep writing business. 

“Although some stability has returned to the mortgage market, inflation is still high and the outlook for the economy and the residential property market remains uncertain. At times like these brokers want to know that they can rely on their lenders to stand by them and do what they can to give them options. Expanding our range and reducing our interest rates is good news for brokers and their clients.” 

He added: “UTB is an agile and dependable, through the cycle lender, committed to the specialist mortgage market for the long term.  

“This isn’t the first time the bank has had to navigate a challenging environment, and it probably won’t be the last, but we have continued to lend, to invest in great people and technology and created products brokers can confidently recommend to their customers.”