"This increase, together with our recent introduction of online DIPs and auto-underwriting, will further help brokers to place and complete more complex cases quickly and successfully."
The move is the final enhancement to be announced by the specialist mortgage lender as part of its Broker Summer Support Package 2021 and follows the introduction of a new document upload system, online DIP and automatic-underwriting system which provides brokers with real-time decisioning available in 4-5 minutes.
UTB's first charge mortgage range includes two, three and five-year fixed rates from 3.80%, available up to 85% LTV for purchase and remortgage. The range is available to first-time buyers and has a maximum LTI of 4.5 on loans over £500,000.
UTB also offers interest-only plans, available up to 70% LTV for downsize and 75% LTV for all other repayment vehicles. Affordability is assessed purely on the interest-only repayment with a minimum £50,000 annual income required.
Buster Tolfree, director of mortgages at United Trust Bank, commented: “We’ve seen increasing demand for larger mortgage sizes catering for customers with circumstances which don’t fit the High Street’s restrictive credit criteria. This increase to a £750,000 maximum loan size demonstrates the confidence we have in our more pragmatic approach to underwriting which is about looking at a customer’s overall situation rather than dismissing them for a blip or two on their credit history.
“This increase, together with our recent introduction of online DIPs and auto-underwriting, will further help brokers to place and complete more complex cases quickly and successfully.”
