United Trust Bank Mortgages has announced rate reductions of up to 20bps across its entire residential mortgage product range and increased its maximum Loan to Income (LTI) ratio to 6x for all applications up to £1m and under 85% Loan to Value (LTV).
The new rates and criteria are available with immediate effect.
Full details can be found in UTB’s Residential Mortgage Product Guide HERE and summarised below:
Prime-Plus plans:
- BoE Lifetime Tracker from +2.19%
- 2yr fix from 5.54%
- 3yr fix from 5.69%
- 5yr fix from 5.79%
- 5yr fix (no ERC) from 6.89%
Prime plans:
- BoE Lifetime Tracker from +2.34%
- 2yr fix from 5.99%
- 3yr fix from 5.94%
- 5yr fix from 6.44%
- 5yr fix (no ERC) from 7.54%
Near-Prime plans:
- BoE Lifetime Tracker from +3.24%
- 2yr fix from 6.89%
- 3yr fix from 6.84%
- 5yr fix from 6.84%
- 5yr fix (no ERC) from 7.94%
Buster Tolfree, Director of Mortgages – United Trust Bank, commented: “This combination of even lower, more competitive rates and the higher maximum LTI allows us to do more to support brokers and their customers. There isn’t a lot of good financial news around at the moment, and so this move will be welcomed by brokers trying to place specialist cases at the upper end of LTIs and affordability and can be applied to larger loans too.
“We’ve had a busy first quarter at UTB Mortgages, boosted by our 95% LTV range and £2m max loan size launched at the start of the year. We will continue to support the specialist market with keen rates and competitive criteria and stay on course for a year of record growth in mortgage lending.”
Brokers can register to use UTB’s services at www.utbankmortgages.co.uk