United Trust Bank (UTB) has increased its maximum residential first charge mortgage size to £750,000.
Highlights of UTB’s first charge mortgage range now available to £750,000 include:
Purchase and Remortgage plans:
- 0-status loans, up to 85% LTV
- 2yr, 3yr and 5yr fixed rates from 3.80%
- First-Time-Buyers accepted
- Max 4.50 LTI on loans over £500k
Interest Only plans:
- 0-Status loans, purchase or remortgage
- Max 70% LTV for downsize and 75% LTV all other repayment vehicles
- 2yr, 3yr and 5yr fixed rates from 3.80%
- Affordability assessed purely on Interest Only payment
- Minimum £50k annual income
- Max 4.50 LTI on loans over £500k
Buster Tolfree, director – mortgages, United Trust Bank, said: “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.”