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: Mortgage, BTL and Second Charge Loans Product Update
Extreme volatility in the deposit and swap markets, both of which are key to how many banks raise and lend money, is leading to sharp increases in the cost of funds. For this reason, we are updating all interest rates across our Mortgage, BTL and Second Charge Loan products. Please note that we remain committed to the specialist mortgage market, and as such all other key criteria and parameters remain untouched, including the availability of fixed rates, max LTV and loan sizes etc.
Key product change information:
- Applications where a Mortgage Offer has already been issued are unaffected.
- We will also honour the current product selected for all Full Mortgage Applications, that were submitted for underwriting before close of business on Tuesday 27 September, providing a Mortgage Offer is issued on or before Tuesday 11 October.
- Any DIP that was not submitted as a Full Mortgage Application before close of business on Tuesday 27 September, will need a new DIP to be completed on the new products detailed below.
- Whilst announced today, these new products will not be available in the Portal until 08:00am on Friday 30 September. We apologise for this slight delay, caused purely as a result of the velocity of cost of funds altering, and scale of products being updated.
Mortgages, Product Update
All Purchase, Remortgage, Interest Only and Unencumbered products have been updated:
- 2yr fixed rates from 6.24%
- 3yr fixed rates from 7.30%
- 5yr fixed rates from 7.35%
- 5yr fixed rates with no ERC from 8.04%
BTL, Product Update
All BTL products have been updated:
- Standard products, 2yr fixed rates from 6.34% and 5yr fixed rates from 7.35%
- Specialist products, 2yr fixed rates from 6.34% and 5yr fixed rates from 7.35%
- Non-Standard products, 2yr fixed rates from 6.69% and 5yr fixed rates from 7.70%
Second Charge Loans, Product Update
All Second Charge products have been updated:
- BoE Tracker rates from +7.09%
- 2yr fixed rates from 7.09%
- 3yr fixed rates from 8.00%
- 5yr fixed rates from 8.10%
- 5yr fixed rates with no ERC from 8.29%