Improving part of your home can often make you realise that the whole place could do with a refresh. Our customers found this out just over a year after completing a loan with the Bank for this purpose. They wanted to continue the improvements, but who should they approach? United Trust Bank of course! We were happy to be able to assist them with the consolidation of an existing loan, continue their refurbishments and have some money left over to treat themselves to a holiday after all their hard work.
Our applicants took out a secured loan with UTB just over 12 months ago to carry out some home improvements which included upgrading their main bathroom, installing double glazing and making repairs to the double garage. However, the improvements then made other parts of the house, including the kitchen, look drab by comparison. They set about upgrading the kitchen using their credit card to pay for the work but they soon realised that the repayments were taking up more of their disposable income than they had anticipated.
The applicants discussed their options with their Credit Intermediary, who was an approved introducer for UTB. Together they completed a fact find and established that United Trust Bank was still the lender that most suited their needs. They could repay their existing loan and still have enough funds to repay some credit cards already used to start the refurbishment of the kitchen and finish the works.
They were keen to start the process and the application was received with all the full underwriting documents which included their last two months payslips, an Automated Valuation (AVM), a credit application search, a Land Registry Search and a fully completed Loan Purpose form. This enabled us to underwrite the application and issue the offer the next day.
Offers are accepted by returning the original Mortgage Deed, which the customers did in time for the Bank to release the funds just 48 hours later.
At United Trust Bank we work hard to maintain and update an underwriting criteria which enables us to lend for most purposes and we continue to work with our brokers to meet our customers’ needs.