"The launch of our residential house purchase mortgages fills an obvious gap in our suite of products"
United Trust Bank has launched its first range of first charge residential mortgage products, aimed at borrowers whose circumstances do not fit mainstream lending criteria.
Two-year fixed rates will start from 3.80% and five-year fixes from 3.95% up to a maximum LTV of 85%. A lifetime tracker will also be available from 3.35%.
Like all the Bank’s mortgage products, there is no minimum credit score required, a wide range of property and construction types are accepted and self-employed and borrowers with some adverse credit history are considered.
The range will initially be available to existing homeowners only.
Earlier this year, United Trust Bank launched its first residential remortgage product.
Buster Tolfree, commercial mortgage director at United Trust Bank, said: “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. As such this is an exciting move, and with this release we now cater for all four types of residential mortgage product verticals available in the UK.
“Our success to date has been borne out of listening to the market, taking note of introducer’s needs and working with them to develop great products where we see a demand for innovation, more competition or the application of our more flexible and common-sense underwriting approach.
“There’s still more to come from UTB over the next 12 months as we continue to expand our product range, widen our distribution and digitise the process. We’re looking forward to working with even more introducers by giving them greater opportunities to recommend UTB to their clients.”