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
Minimum Income Update
From 09:00 on Wednesday 13 July, the minimum primary applicant income for residential Mortgage and Second Charge loans will become £35,000. The DIP will be updated to reflect this change. Interest Only products will still require a £50,000 minimum income.
DIP approve decisions provided before 13 July where the primary applicant income is lower than £35,000 will remain valid providing Full Mortgage Application is made on or before Friday 12 August. New DIP decisions will reflect the change that has been made. There is no time requirement for applications already submitted to UTB and within the underwriting process, to be Offered or Completed.
We are currently experiencing record high levels of sales and applications, and whilst we are currently maintaining our 24hr service level for all aspects of underwriting, we are also in the process of recruiting to make this a little easier. In the interim we would ask that any chasing for updates is please kept to a minimum, and applications are submitted with all necessary underwriting requirements requested at DIP stage.