United Trust Bank (UTB) has given access to its new first charge ‘mini-mortgage’ product to Tenet.
The product allows customers who own their homes outright to release equity, and can also be used for purchases and remortgages, and has a loan range of £5,000 to £100,000 with an LTV of up to 75%.
Leeds-based Tenet is an adviser support group, which includes TenetConnect, TenetLime, TenetSelect and Aspire Financial Management.
Simon Broadley, managing director at TenetLime (pictured above), said: “We’re pleased to be selected as the first network to launch with this product.
“UTB’s mini-mortgage will be a useful addition to our brokers’ toolkit as it could help a wide spectrum of consumers, from first-time buyers to older borrowers.”
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