United Trust Bank Mortgages has announced rate reductions of up to 84bps across a selection of its Second Charge Loan product range. The specialist lender has also removed Product Fees from Second Charge Loans below £40,000.
Pricing highlights – Available with immediate effect
Prime-Plus plans:
- 5yr fix from 5.59%
- 5yr fix no ERC from 6.35%
Prime plans:
- 5yr fix from 5.84%
- 5yr fix no ERC from 6.50%
Near-Prime plans:
- 5yr fix from 6.99%
- 5yr fix no ERC from 7.35%
In addition:
- UTB Second Charge Loans below £40,000 now do not have a Product Fee.
- Loans are available up to 90% LTV
- The maximum loan size is £1m up to 80% LTV
- Unlimited overpayments are allowed on ERC plans
- Enhanced AVM criteria – Up to 80% LTV
Full details can be found in UTB’s Second Charge Product Guide HERE
Buster Tolfree, Director of Mortgages – United Trust Bank, commented: “These lower rates combined with zero product fees up to £40,000 loan sizes and enhanced AVM criteria are great news for brokers and customers looking to take advantage of this very quick and versatile product. We continue to support the specialist market with competitive pricing and attractive criteria, encouraging growth in the second charge market.”
Brokers can register to use UTB’s services at www.utbankmortgages.co.uk