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UTB introduces new first charge product

Sam Monk | 16:47 Tuesday 19th March 2019

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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