United Trust Bank (UTB) has launched a new first charge product aimed at customers who own their properties outright.
The unencumbered restart mortgage is designed to enable homeowners to release capital tied up in their property for a wide variety of purposes.
Key product features include:
- £250,000 maximum loan size to a maximum 75% LTV
- no minimum credit score
- no lender application fee
- various construction types accepted
- max age 85
- lifetime BoE trackers from +4.4% and five-year fixed rates from 6%
- 1% commission/procuration fee
Buster Tolfree, commercial director of mortgages at UTB (pictured above), said: “UTB continues to develop and bring to market mortgage products which cater for customers whose specialist needs aren’t being met by the ‘one-size-fits-all’ approach taken by many other lenders.
“We listen to introducers, identify opportunities and design products which offer great value and a quick, straightforward, hassle-free experience backed by commonsense lending decisions.”
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