Please find the below update from the UTB Mortgages for Intermediaries team. Changes have been made across the entire Second Charge product range, including Major Rate Reductions, effective immediately:
Prime 0-Status Products:
- 75% LTV, up to 0.45% rate reduction for 2, 3 and 5yr fixed plans
- 80% LTV, up to 1.00% rate reduction for BoE Tracker, 2, 3 and 5yr fixed plans
- Max £500k loan size
- Previous Adverse accepted: Can have unlimited unsecured missed payments if now up-to-date, and up to £5k of Defaults/CCJs more than 2 years ago. 0 in last 12m mortgage arrears.
- Unusual Properties accepted: including steel-frame, timber-frame, concrete, listed, ex-local or high-rise flats and maisonettes.
Near Prime, 1-Status Products:
- 65% LTV, up to 1.25% rate reduction for 2, 3 and 5yr fixed plans·
- 70% LTV, up to 1.30% rate reduction for 2, 3 and 5yr fixed plans
- 75% LTV, up to 1.60% rate reduction for 2, 3 and 5yr fixed plans
- 80% LTV, up to 0.50% rate reduction for 2, 3 and 5yr fixed plans
- Max £500k loan size to 70% LTV, £250k to 75% LTV and £125k to 80% LTV
- Previous Adverse accepted: Can have unlimited unsecured missed payments if being consolidated. Max 1 Default/CCJs with unlimited £ in the last 2 years, and unlimited £/number more than 2 years ago. Up to 1 in last 12m mortgage arrears.
- Unusual Properties accepted: including steel-frame, timber-frame, concrete, listed, ex-local or high-rise flats and maisonettes.
Near Prime, 2-Status Products:
- 65% LTV, up to 1.50% rate reduction for 2, 3 and 5yr fixed plans
- 70% LTV, up to 2.00% rate reduction for 2, 3 and 5yr fixed plans
- 75% LTV, up to 2.30% rate reduction for 2, 3 and 5yr fixed plans
- 80% LTV, up to 1.40% rate reduction for 2, 3 and 5yr fixed plans
- Max £500k loan size to 70% LTV, £250k to 75% LTV and £125k to 80% LTV
- Previous Adverse accepted: Can have unlimited unsecured missed payments if being consolidated. Max 2 Defaults/CCJs with unlimited £ in the last 2 years, and unlimited £/number more than 2 years ago. Up to 2 in last 12m mortgage arrears.
- Unusual Properties accepted: including steel-frame, timber-frame, concrete, listed, ex-local or high-rise flats and maisonettes.
Download our new latest product guides below:
Standard Second Charge Product Guide here.
Packager and Distributor Second Charge Product Guide here.
