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: Bank of England Base Rate
Further to the news that the Bank of England Base Rate was increased yesterday to 1.75%, I can confirm that the UTB Mortgage Portal will be updated tonight, as below:
- Mortgage Illustrations or Offers issued on any applications will now detail the new higher Base Rate and reversionary monthly payment;
- Offered applications will complete as normal, with any new payment detailed in the customers welcome letter; and
- Pipeline Lifetime Tracker, or Fixed Rate products of less than 5 years, will be prompted to re-assess affordability within the UTB Portal prior to Full Mortgage Application.
Finally, any existing UTB customers who are currently on a BoE Tracker rate, will receive a letter advising them of their new pay-rate and monthly payment.