Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
UTB Reintroduces 90% LTV and Cuts Rates on Second Charge Loans
United Trust Bank (UTB) Mortgages has enhanced its residential second charge loan offering by reintroducing lending up to 90% loan-to-value (LTV) and reducing rates by up to 60 basis points on selected products. These changes apply across UTB’s Prime, Near Prime, and Specialist product ranges.
The enhancements are aimed at providing brokers with greater flexibility and more competitive options for customers seeking to raise capital for purposes such as home improvements or debt consolidation. For letting agents and inventory clerks, these changes may be relevant for landlords or property owners looking to access equity for property upgrades or other financial needs.
The specific updates include:
- Lending up to 90% LTV is now available again across UTB’s Super Prime, Prime Plus, and Prime ranges for loans between £20,000 and £100,000.
- Rate reductions of up to 60 basis points have been applied to selected fixed-rate products in the Prime, Near Prime, and Specialist ranges.
- Fixed rates now start from:
UTB states that these enhancements are designed to give brokers more flexibility to help customers achieve their financial goals.
Source: Mortgage Strategy