United Trust Bank has announced an important product update. Click here for the latest Master Broker/Packager/Distributors product guides. Or here for the updated product guides for Direct/Networks/Club. If you have any new applications you wish to discuss, please Contact us for more information.
ANNOUNCEMENTS
UTB Mortgages: Second Charge Criteria and Rate Enhancements!
We are enhancing criteria and interest rates across our Second Charge product range on Tuesday 1 July.
Full details can be found in the attached Second Charge Product Guide, with highlights including:
Hometrack AVM Criteria
Our Hometrack AVM criteria has been enhanced, with eligibility now as below for LTV, £ loan and Confidence Level (CL). We estimate this will mean up to 85% of applications will now pass an AVM, saving customers up to £250k in physical valuation costs per year.
- 80.01-85% LTV, loans up to £150k, min 6.5 CL
- 75.01-80% LTV, loans up to £150k, min 6.0 CL
- 0.00-75% LTV, loans up to £250k, min 5.0 CL
- 0.00-60% LTV, loans up to £150k, min 4.0 CL
- 0.00-40% LTV, loans up to £150k, min 3.0 CL
- Property valuations over £1m, max 75% LTV, up to £150k, min 6.0 CL
90% LTV Criteria
Our 90% LTV criteria has been enhanced, with details as below:
- Min Loan reduced to £20k
- Min Income reduced to £15k
- Min Property value reduced to £150k
- Max LTI increased to 5.0
Pricing Enhancements
Interest rates have been updated across the product range, highlights are as below:
- Prime-Plus plans:
- BoE Tracker from +3.24%
- 2yr fix from 6.19%
- 3yr fix from 6.09%
- 5yr fix from 5.69%
- 5yr fix no ERC from 6.35%
- Prime plans:
- BoE Tracker from +3.34%
- 2yr fix from 7.29%
- 3yr fix from 7.19%
- 5yr fix from 5.94%
- 5yr fix no ERC from 6.50%
- Near-Prime plans:
- BoE Tracker from +4.54%
- 2yr fix from 8.59%
- 3yr fix from 8.49%
- 5yr fix from 6.99%
- 5yr fix no ERC from 7.35%
You can reach our sales team on 020 7031 1551, or at
[email protected]. Individual applications can be created or updated through the portal at www.utbankmortgages.co.uk.
95% LTV Residential Mortgages From UTB
We are continuing to develop our residential mortgage range with higher
LTV lending, helping even more specialist first time buyers achieve their
home-owning dreams.
- We offer 95% LTV mortgages with no debt consolidation limits
- We lend on non-standard construction properties and those adjoining
commercial properties - We cater for customers with impaired credit – CCJs and defaults under
£300 are ignored - We accept 75% overtime, bonus and commission (subject to 2 years
evidence) - Interest Only option is available with affordability assessed on the
interest only payment