The lender’s 2-year fixes will start from 3.8% and 5-year fixes from 3.95% up to 85% loan-to-value with no application fee,
United Trust Bank has launched into the residential market with specialist remortgage products.
The lender’s 2-year fixes will start from 3.8% and 5-year fixes from 3.95% up to 85% loan-to-value with no application fee,
UTB said each application will be individually assessed by an underwriter, while in order to keep costs down there will be no minimum credit score, AVMs up to 75% loan-to-value, and no borrower legal representation.
Buster Tolfree (pictured), commercial director – mortgages, at United Trust Bank, said: “This is a very exciting step forward for UTB as we continue to expand and enhance our range of specialist mortgage products.
“When developing new products, we listen to people like Dale at Impact who have an exceptional grasp of what’s happening in the marketplace and a desire to see more customers offered great products and service.
“We will step into new markets when we see a need for innovation or greater competition and believe that UTB can make a positive difference.
“We’ve proven our ability to do that in the second charge market and we believe we’ll do the same again with our new remortgage range.
“There’s more to come from UTB this year and I look forward to giving brokers even more opportunities to introduce their clients to a lender which puts achieving great customer outcomes at the forefront of everything we do.”
UTB said this latest move is the next step in its plan to become a major force in the specialist mortgage sector.
Last year the bank entered the first charge arena with its ‘unencumbered re-start’ product, aimed at customers who are looking to release capital from their homes but do not have a recent mortgage history.
Dale Jannels, managing director at Impact Specialist Finance, said: “There are many reasons why a borrower can slip into the adverse credit lending band, but it’s crucial to a healthy mortgage market that such people have access to good advice and that there is sufficient competition between lenders in the sector.
“UTB will certainly shake things up.”
