United Trust Bank (UTB) has launched a new range of first charge residential house purchase mortgage products.
The products have been designed for customers underserved by mainstream mortgage lenders and aimed at borrowers whose circumstances do not fit such lenders’ credit score-led underwriting processes.
UTB will combine technology with specialist underwriters to provide decisions based on the merits of each application.
The product range — which has a maximum LTV of 85% — includes two-year fixed rates from 3.8% and five-year fixed rates from 3.95%.
There’s no minimum credit score, no LTV restrictions on property construction types or flats, and no application fee.
The range is available for existing homeowners.
“The launch of our residential house purchase mortgages fills an obvious gap in our suite of products, and it signals our intent to become a specialist lender with a range of products suitable for customers in most property-buying, remortgaging or capital-releasing scenarios,” said Buster Tolfree, commercial director of mortgages at UTB (pictured above).
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