United Trust Bank: Second Charges, Major Rate Reductions

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