United Trust Bank (UTB) has completed its 10,000th second charge mortgage, a loan for £31,395 to enable the applicants to complete home improvements alongside some debt consolidation.
It was introduced by Fluent Money and arranged on a five-year fixed rate with no ERCs.
UTB completed its first second charge mortgage on 4 June 2015; it has completed over 10,000 second charges totalling in excess of £500m, working 38,257 items of post in the process/
It offers second charge mortgages from £10,000 to £400,000 and uses have ranged from home improvements to debt consolidation, refinancing a Help to Buy equity loan and purchasing a buy-to-let investment property.
Simon Moore of Fluent Money, which introduced the 10,000th second charge mortgage to UTB, said: “I was delighted to hear that Fluent Money had introduced UTB’s 10,000 second charge mortgage as we have supported Buster and the team since the beginning.
“UTB has made a significant impact on the market and become a key player in the industry in a very short time. They are committed to delivering excellent customer outcomes and lead the field amongst lenders in developing new products and digital solutions to further improve the experience for borrowers and introducers alike.”
Buster Tolfree (pictured), commercial director – mortgages, United Trust Bank, added: “This is a significant milestone for the Bank and it’s hard to believe that we soft launched into the second charge market just four years ago.
“Since then we have continued to shake up the specialist mortgage sector, won lots of awards and developed an entire division off the back of our second charge success. I would like to thank Fluent Money and all the other brokers and packagers who have supported UTB and helped us to reach this impressive milestone so quickly.
“We recently completed our very first home purchase mortgage and are continuing to develop our offering with an ambition to become a significant participant in the wider specialist mortgage market. I’m confident it won’t be long before we announce our 10,000th first charge mortgage… so watch this space.”