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: £15k Minimum Income, ID, 24hr SLA and Portal Update
£15k Minimum Income
On Wednesday 17 August we will be reducing our minimum income for all Residential Mortgage and Second Charge Loan applications back to £15k. This will benefit all pipeline cases and any DIP from 09:00 on 17 August, regardless of current process stage.
Identification and Security Checks
In 2020 we introduced the UTB Chat Hub App, which allows customers to complete their ID verification and pre-offer security checks quickly and easily through their smartphone. Around 98% of all applications undertake this journey already, as opposed to other more manual methods. Moving forwards, and as part of our commitment to preventing financial crime, we will require all applicants to complete their ID verification through the UTB Chat Hub App. Where applicants do not have a smartphone, then we will now only accept Independent Legal Advice as an alternative.
24hr SLA
I’m pleased that despite record levels of new business we have maintained our commitment to a 24hr SLA. Following the successful recruitment of additional staff in the last few weeks, we are confident we will continue to meet this SLA commitment in the future.
Portal Update
On Tuesday 16 August at 17:00 the Broker Portal will be taken down for maintenance, and will be available again at 09:00 the following morning. I can confirm that we are making no changes to interest rates, products or criteria as part of this maintenance, but it may be necessary to re-select the individual product name in the ‘Requested Loan’ screen, for any cases that have not yet been submitted for underwriting. This will not impact any DIP decisions, or documents already produced.