Financing home improvements can be quick and easy
Customers arrange second charge mortgages for a variety of reasons, but a particularly popular one is to raise money for home improvements. At United Trust Bank we understand that building an extension or installing a new kitchen or bathroom can be stressful, so our Specialised Mortgages underwriting team work with our introducers to ensure the application process is as straightforward as possible.
We recently completed a second charge mortgage loan for £145,000 to finance an extension and new kitchen at the security property. The joint applicants were a married couple who had been self-employed for 7 years, running a catering company.
The application was submitted to the underwriting team, with affordability evidenced using UTB’s unique online calculator, and income proved by the company accountant using an Accountants Certificate. After some straightforward requirements were fulfilled, including a full valuation report, the loan was approved just 6 days after being submitted.
The introducer was very pleased with the speed and ease of the application process, with funds released the day after the loan was approved.
Loan amount: circa £145,000 – LTV 72%.