Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

UTB Relaunches 90% LTV Second Charge Loans and Cuts Rates

United Trust Bank (UTB) has reintroduced lending up to 90% loan to value (LTV) on its residential second charge proposition. The lender has also made selected rate reductions of up to 60 basis points across its product range.

UTB’s 90% LTV lending is now available on its Super Prime, Prime Plus, and Prime ranges for loans between £20,000 and £100,000. In addition, rates have been reduced across the Prime, Near Prime, and Specialist products.

Fixed rates now start from 6.09% for Super Prime, 6.24% for Prime Plus, 6.64% for Prime, 7.29% for Near Prime, and 7.49% for Specialist products.

These changes may be relevant to letting agents and inventory clerks who work with landlords or property owners considering second charge loans as a way to access equity or finance property improvements. The updated lending criteria and reduced rates could impact the options available to clients seeking additional borrowing against their residential properties.