Borrowers taking out a super prime mortgage can borrow up to 85% loan to value (LTV) and must not have incurred any county court judgments (CCJs) or defaults in the last 48 months.
Those suitable for a specialist mortgage are restricted to a maximum LTV of 80% and are permitted two CCJs and two defaults within the last 24 months.
Interest-only options are accepted across all deals and non-standard and unusual property types are considered.
The introduction of the two residential ranges follows UTB’s launch of the same product tiers within its second charge offering, alongside broad pricing revisions that have reduced rates to 5.39%.
Andrew Ferguson (pictured), commercial director of mortgages, buy to let (BTL) and bridging at UTB, said: “We said there was more to come and we meant it. These enhancements to our residential range are great news for brokers who are increasingly seeing applicants who can’t get what they need from mainstream lenders. We’ve also revised our pricing across the range.”
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