"UTB continues to develop and bring to market mortgage products which cater for customers whose specialist needs aren’t being met by the ‘one size fits all’ approach"
The 'Unencumbered Re-start Mortgage' allows outright owners to raise capital for home improvements, purchasing investment or buy-to-let property, consolidating unsecured debt or a combination of uses.
Lifetime trackers start from 4.4% and five-year fixed rates are available from 6% up to 75% LTV with no application fee. The maximum loan size is £250,000 and the maximum borrower age is 85.
Product features include no minimum credit score, automated valuations and no need for borrower legal representation.
Brokers will receive a procuration fee of 1% and the product is available through United Trust Bank’s master broker panel and strategic packager partners.
Buster Tolfree, commercial mortgages director at United Trust Bank, commented: “UTB continues to develop and bring to market mortgage products which cater for customers whose specialist needs aren’t being met by the ‘one size fits all’ approach taken by many other lenders. We listen to introducers, identify opportunities and design products which offer great value and a quick, straightforward, hassle free experience backed by common sense lending decisions.
“This is going to be a very exciting year in the development of UTB’s mortgage business and I’m looking forward to revealing more of our plans as we progress through 2019.”
