United Trust Bank increases first-load max loan to £ 1million

United Trust Bank (UTB) has increased the maximum size of its first charge residential mortgage to £ 1million.

The specialist lender said it made the move following comments from brokers that there is a growing demand for larger mortgages from clients who are not served by traditional lenders.

Products are available on residential purchases for existing homeowners, first-time buyers and for remortgages on acrepayment of capital or interest base only up to 85% LTV.

The affordability of interest-only mortgages is assessed solely on the interest payment.

Customers with previous adverse credit will be considered, subject to criteria, as will unusual types of properties and constructions including steel framing, timber framing, listed buildings, old houses in the local authority and high-rise apartments and maisonettes.

United Trust Bank Mortgage Director Buster Tolfree said: “Brokers tell us that there is a significant demand for larger mortgages from clients who do not meet the criteria of traditional lenders.

“Our combination of smart technologies backed by personal underwriting allows us to provide substantial and competitive mortgages to borrowers who may be stranded on Main Street for minor credit issues or because the home they want to buy is more attractive. or unusual than simple bricks and tiles. . “

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