UTB increases maximum size of first charge residential loan


“This increase, along with our recent introduction of online PIDs and automatic underwriting, will further help brokers place and complete more complex cases quickly and successfully. “

United Trust Bank has increased the maximum size of its first charge residential mortgage to £ 750,000.

The move is the latest improvement announced by the specialist mortgage lender as part of its 2021 summer brokerage support program and follows the introduction of a new document upload system, online DIP and an automatic underwriting system that provides brokers with real-time decisions available. in 4-5 minutes.

UTB’s range of senior mortgages includes two, three and five year fixed rates starting at 3.80%, available up to 85% LTV for purchase and remortgage. The range is available for first-time buyers and has a maximum LTI of 4.5 on loans over £ 500,000.

UTB also offers interest-only plans, available up to 70% LTV for size reductions and 75% LTV for all other reimbursement vehicles. Affordability is assessed solely on interest repayment only with a minimum annual income of £ 50,000 required.

Buster Tolfree, Mortgage Manager at United Trust Bank, said: “We have seen a growing demand for larger mortgages for clients whose circumstances do not meet the restrictive High Street credit standards. This increase to a maximum amount of £ 750,000 demonstrates the confidence we have in our more pragmatic approach to underwriting, which involves looking at a client’s overall situation rather than dismissing them for one or two points on their history of underwriting. credit.

“This increase, along with our recent introduction of online PIDs and automatic underwriting, will further help brokers place and complete more complex cases quickly and successfully. “


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