Are your offices open as normal?

We have implemented plans which are enabling us to continue serving our customers. However, we are still operating with reduced staff in the office so please bear with us if it takes us a little longer than usual to answer a call or respond to a message or email.

 

Can I talk to someone on the phone?

At present many of our staff are working from home and this is affecting how quickly we are able to deal with some customer queries. In order that we can deal with your query as quickly as possible please email us at [email protected].

 

What assistance is United Trust Bank able to offer me at this time?

If you are currently on a payment deferral but require further support, we would urge you to contact us as soon as possible so that we can discuss the options that may be available to you.

 

What is a payment deferral?

A payment deferral is a variation to your agreement with us. A payment deferral enables you to defer your payments for a set period of time. It is important to note that you will still owe these missed payments. Therefore, at the end of your payment deferral, your loan term will be extended for the period of the payment deferral and you will be provided with a revised monthly payment. This will be calculated using the revised balance to enable your agreement to be repaid by the end of the revised term.

 

Will I be charged additional interest during the payment deferral?

The interest will accrue on the balance outstanding at the rate of the agreement during the payment deferral. At the end of the payment deferral your remaining payments will increase to reflect the interest accrued during the payment deferral.

 

Will all customers receive an automatic payment deferral?

You will need to contact us to apply for a payment deferral.

 

How do I apply?

Please email us using [email protected]. It would be helpful to include the following information:

Full customer name

Home / Business address

Account number

Details of how Covid-19 has affected your business and how you wish your contract to be rescheduled

3 months bank statements

Any other relevant supporting information

 

Should I cancel my Direct Debit?

No. To save time we will use your existing Direct Debit to collect any revised payments.

Please be assured that we are making every effort to support people in financial difficulty.

Are your offices open as normal?

We have implemented plans which are enabling us to continue providing customer service. We have taken into account the Government’s directive on home working and restricting the numbers of staff travelling to the office.  We hope this will not impact our service to a noticeable level, but please bear with us if it takes us a little longer than usual to answer a call or respond to a message or email.

 

What is a payment deferral and am I eligible for one on my bridging loan?

A payment deferral (previously known as a ‘payment holiday’) enables you to defer a monthly mortgage payment for a set period of time. With your bridging loan you do not make monthly payments, therefore the Government announcement regarding payment deferrals does not apply to your loan.

 

What assistance is United Trust Bank able to offer me at this time?

We can offer assistance to customers who have loans expiring prior to 31 March 2021 and whose repayment strategies have been affected by the Covid-19 outbreak. We are able to extend your loan repayment date by a period of up to 3 months. In this situation we will not apply any fees, however interest will continue to accrue on your loan.

If you have specific conditions due on your loan these can also be extended for up to 3 months

 

Will all customers receive an automatic three-month extension?

No, you will need to contact us to apply for an extension prior to the expiry of your loan.

 

How do I apply?

Please email us using [email protected]. It would be helpful to include the following information:

Full name

Home /Business address

Bridging Loan account number

Details of how Covid-19 has affected your circumstances and your plans to repay the loan at the end of the extension

 

What if I need longer than 3 months?

We can review extensions for a longer period subject to your circumstances and our normal criteria. Further extensions may incur an extension fee. Please contact us using [email protected] to discuss.

Please be assured that we are making every effort to support people in financial difficulty.

Can I still manage my account/s as normal?

We have implemented plans which are enabling us to continue serving our customers and enabling them to deposit and withdraw money and manage their accounts. However, following the Government’s most recent directive, we are operating with reduced staff in the office and this is impacting our service levels. For example, you may have to wait longer than usual to talk to a customer service adviser so please bear with us.

 

What can I do online?

At the moment, the best way to give us an instruction is digitally. Please use our contact form here or send an email to [email protected]. In some cases, we may need to call you on a telephone number you have previously registered with us in order to confirm your identity and instructions. We will confirm by email once we have completed your request.

 

Can I still withdraw my money if I want it?

If you are reaching the end of a fixed term on your savings account we will deal with it in exactly the same way as we always would within the terms of your account. We will contact you leading up to the fixed term expiring and ask you what you would like us to do with your maturing funds. Notice account holders can place notice to withdraw funds as normal and the money will be repaid following the account’s notice period.

 

Can I withdraw my funds early, before the end of my fixed term?

In normal circumstances you would not be able to withdraw your money from a fixed term savings account before the end of the fixed term. If you are experiencing financial difficulty and need to access your savings early, please email us on [email protected] or use our contact form here and someone will be in touch with you to discuss what we can do to help you.

 

What would happen if lots of your customers wanted to withdraw their money at the same time? Would you be able to pay it out?

United Trust Bank is a strong, well capitalised bank, which has always maintained a high level of liquidity and as a regulated bank we follow strict rules on having money available to pay out to our depositors. A vast majority of our customers have deposited their savings with us for fixed terms to take advantage of competitive interest rates and therefore withdrawals are prohibited in normal circumstances.

 

Is my money safe with United Trust Bank?

Yes. United Trust Bank is well capitalised with a high level of liquidity and we adhere to strict rules and regulations designed to protect our customers. In addition, our savings customers benefit from a government guarantee protecting their savings up to £85,000 each through the Financial Services Compensation Scheme (FSCS).

 

Are you still accepting new deposits?

Yes, we are accepting new deposits funded by electronic transfer. Information about our current range of deposit accounts, including ISAs and Fixed Term accounts can be found here.

 

Are you accepting applications for 2020/2021 ISAs?

Yes, customers are able to open a fixed term ISA to use their annual ISA allowance. We would prefer new deposits to be made by electronic transfer.

 

Are your opening hours the same as usual?

Yes, the measures we have put in place are enabling us to maintain our usual office hours. They are:

Monday to Friday 8:30am – 5:30pm.

Saturday and Sunday – Closed

 

How can I contact you if I have a query about my money?

During this period the best way to get in touch is via the contact form here and one of our team will respond as soon as possible. Most of our staff are now working remotely or working in shifts to adhere to the Government’s latest instructions and reduce the time they have to spend away from their homes. Unfortunately, this is putting additional pressure on our telephone services and this is frustrating for those who need to speak to us urgently about imminent financial difficulties. Although every call and customer is important to us, we are asking for your cooperation in enabling us to first help those customers who need it most urgently.

If your query is urgent and you would prefer to speak to one of our customer service team or leave us a voicemail, you can call us on 020 7190 5599. Please bear with us if it takes longer to answer your call than normal.

Are your offices open as normal?

We have implemented plans which are enabling us to continue serving our customers. However, following the Government’s most recent directive, we are operating with reduced staff in the office and this is impacting our service levels so please bear with us if it takes us a little longer than usual to answer a call or respond to a message or email.

 

Are you still lending?

Yes. We are keen to consider your development finance proposals and discuss future projects. We continue to support UK house builders and developers.

 

What are you doing to ensure that my case can complete on time / that if I place a case with UTB you will still be able to meet my requirements?

The Coronavirus is creating exceptional operating conditions for most businesses and we have implemented measures to ensure that we can maintain our services whilst having fewer staff in the office and most people working from home.

Our investment in technology has increased our capability to manage in unusual circumstances. Our team is able to work remotely with full access to client account information. They are picking up emails as normal and are available on their usual landline or mobile number. So far, our contingency plans are working well. Proposals are being considered and processed, credit decisions are being made and we are making payments when promised.

 

Are you still offering quick credit decisions?

Yes. Our credit committee continues to meet regularly with some participants dialling in via either voice or video conference facilities when they are not in the office. As such we continue to give dependable credit decisions.

 

Are completions / monthly pay outs still being made on time?

We’re doing everything we can to ensure these remain unaffected. Where third parties are involved, such as our solicitors and surveyors, we’re working closely with them to ensure we continue delivering an efficient service. If you have any specific concerns, please contact your relationship manager.

 

What support can you offer me if my current project is impacted by the consequences of the Coronavirus?

We understand that many businesses are facing financial and logistical difficulties at the moment. If you think your project will be adversely affected by the Covid-19 outbreak, please discuss it with us. We may be able to offer solutions to help you overcome short term financial problems or challenges caused by delays to your project.

 

What should I do if my facility is due to expire in the next three months and I don’t think I will be able to repay the loan on time?

If you are expecting to encounter any difficulties as a result of the Covid-19 outbreak, please contact your relationship manager as soon as possible so that we can start discussing suitable solutions.

 

Still meeting with customers?

We are able to meet customers where we are able to comply with social distancing rules in line with the latest government guidance. Alternatively, we can arrange video conference calling on all the usual platforms.

 

Are you visiting construction sites?

We continue to conduct site visits for all new and existing schemes where the bank has already advanced funding or is about to advance new finance. This is on the basis that we are able to comply with social distancing rules and attendance complies with the latest government guidance.

 

Are you meeting with brokers?

We continue to conduct meetings on all the usual video conferencing platforms with our broker contacts. This includes joining the regular team meetings of broker accounts where invited to do so.

Are your offices open as normal?

We have implemented plans which are enabling us to continue serving our customers. However, following the Government’s most recent directive, we are again operating with reduced staff in the office and this may impact our service levels, so please bear with us if it takes us a little longer than usual to answer a call or respond to a message or email.

 

What can I do if I can’t pay my next mortgage repayment?

We understand that many people are facing financial difficulty as result of the Covid-19 outbreak. If you are still experiencing financial difficulty or a change in your financial circumstances for the first time which is making it difficult to maintain your mortgage  payments, we may be able to agree a range of options subject to your individual circumstances, for example:

3 month Payment Deferral if you have not already had a 6 month deferral previously (see below for further information)

Accepting reduced/partial payments for a short period

Extending the term of your mortgage

Allowing you to spread the repayment of arrears over an affordable term

For more information please click here. Or please email us at [email protected] to discuss your individual circumstances

 

What is a ‘payment deferral’?

A payment deferral (previously referred to as ‘payment holiday’) is a temporary measure introduced during the COVID-19 pandemic. A payment deferral enables you to defer your monthly mortgage payments for a maximum of three months at a time (up to a total period of six months). A payment deferral may be appropriate where there is a temporary reduction in your household income as a result of COVID-19.

It’s important to note that you will still owe these missed payments and the interest on your mortgage will continue to accrue during the payment deferral period. At the end of the payment deferral we will discuss your circumstances with you so we can agree a manageable way for you to recommence your monthly repayments and to consider how you will repay the deferred payments and the interest incurred. If you are still unable to resume payment please contact us to discuss the options available to you which may include a second deferred period.

 

How do ‘payment deferrals’ work?

The mortgage repayment is deferred for a set period (maximum 3 months). We temporarily set the monthly payment due to zero and interest accrues as normal for the period. Please let us know if you have a permanent reduction in income, or you are unable to afford the full mortgage repayments and there is little prospect of an improvement in your situation in the foreseeable future.

Where repayments are deferred for a period, you will need to make up these repayments in the future. This could be over the remaining term of the mortgage by increasing your future monthly repayments, or by extending the mortgage term.

A payment deferral may not be the right solution if you believe your problems are long term, if this is the case please contact us on 0330 0535715 to discuss your options.

 

Will I be eligible for a payment deferral?

Those impacted by Covid-19 can request a payment deferral for a total maximum of 6 months but no more than 3 months at one time. The second period can be consecutive but you will need to reapply after the first 3 months for this to continue.

 

Can I apply for a payment deferral at anytime?

No. Currently the time you will be able to apply for an initial or further payment deferral will be up to 31 March 2021. After 31 March 2021, you will only be able to extend a payment deferral for a further period (up to a maximum of 6 months), if the request would see consecutive payments deferred.

Should you consider that you might require 6 full months of deferred payment, you should apply in good time before February 2021. This is because all payment deferrals must end by 31 July 2021.

 

Will all customers receive an automatic three/six-month payment deferral?

No. A payment deferral is a short-term solution to a temporary reduction in income and you will need to email us at [email protected] if you are in this situation and wish to defer your repayments in this way.

 

I took a 3 month payment deferral and have seen the government have announced this will be extended, will that happen automatically?

No, you will receive a letter shortly after the end of the agreed deferral period explaining the options available to you. If you do not contact us at least 10 working days prior to your payment resuming we will assume that you are able to recommence payments. If you are not able to resume payments please contact us as soon as possible so that we may discuss your options.

 

How do I apply for a payment deferral?

If you are affected by the Covid-19 outbreak you can request a payment deferral by emailing us at [email protected]

 

Please include the following information:

Full name
Address
Mortgage Account number

If your account is currently in arrears, please call us on 0330 0535715.

 

If I take a payment deferral what will happen to my credit profile?

If you choose to take advantage of a payment defferal, we will not report the non-payment to Credit Reference Agencies during the deferred period. At the end of the deferral period, we will discuss with you methods to repay the deferred payments and accrued interest. If after a reasonable period of time, an agreement to repay these amounts is not agreed, we may in the future report this to the Credit Reference Agencies.

Credit profiles and scoring are not the only tools lenders use to assess applications. At UTB we cannot control how other lenders make their lending decisions.

 

What happens if I am already in arrears?

If you are concerned about the impact Covid-19 will have on your income you should contact us as soon as possible. We will review any changes to your circumstances to ensure that your payments remain affordable and sustainable. We will make every effort to support people already in financial difficulty.

 

I am really concerned about my financial situation?

We encourage you to contact us as soon as you can to discuss your situation. We also suggest contacting organisations that can offer free financial help and support. Take a good look through the following sites.

https://www.moneyadviceservice.org.uk/en
https://www.citizensadvice.org.uk/
https://www.shelter.org.uk/
https://www.stepchange.org/

Are your offices open as normal?

We have implemented plans which are enabling us to continue serving our customers. However, following Government guidelines, we are operating with reduced staff in the office and this is impacting our service levels.

Are my payments due as normal?

Yes, unless you have contacted us to discuss an arrangement your existing repayment schedule applies. If you usually pay by direct debit or scheduled card payment and we have not confirmed an alternative with you your payment will be deducted from your bank account on its next due date. We encourage you to contact us at least seven days before the due date if you think you may have difficulty paying.

Can I talk to someone on the phone?

At present we are operating with a reduced number of staff and this is affecting how quickly we are able to deal with customer queries. You may prefer to email us initially on [email protected] or use our web contact form which can be found here. If we cannot answer your query by email we will arrange a convenient time for one of our team members to contact you. Our office hours are Monday to Friday 9.00 – 17.00. We thank you for your cooperation and understanding in helping us to best serve all our customers during this time

What can I do if I can’t pay my next payment?

We understand that many people are facing temporary financial difficulties as a result of the Covid-19 outbreak. If you are experiencing , or reasonably expect to experience, temporary payment difficulties we may be able to offer you a range of options, including a payment deferral of up to 3 months (to a maximum of 6 months in total). If your difficulties are longer term, not related to Covid-19 or you have already benefitted from the maximum deferral period of 6 months, we can offer other solutions based on an understanding of your individual circumstances. You may find it beneficial to complete a budget form to enable you to clearly know how much money you have coming in each month, where it is spent and how much you have left. If you have not already completed one of these, we have one available here which you can send to us and keep for your records. We will use the information you provide to better understand your circumstances and help find the solution which is right for you.
If you are unable to complete the budget form online due to your circumstances, please give us a call.

Please contact us to discuss your circumstances

Should I cancel my direct debit?

If you are unable to pay your next payment please contact us to discuss how we may be able to help you on [email protected] . It is not usually necessary to cancel your direct debit instruction, however we are unable to make amendments to payments due within the next 3 working days.

What is a payment deferral?

A payment deferral is a concession to your agreement with us. A payment deferral enables you to defer your payments for a set period of time (maximum 3 months). This option may be appropriate where there is a loss or temporary reduction in your income due to circumstances arising out of Covid-19. It’s important to note that you will still owe these missed payments and therefore unless you make overpayment during the remaining term of the loan, your loan will not be repaid within the original term. You will have the option to make the missed repayments at the end of the deferral period if it is affordable to you.

Where a payment deferral is applied we confirm that, other than in respect to the term of your agreement which will now be longer, all other original terms of your agreement are unchanged.

When considering whether a payment deferral suits your circumstances you should note that by deferring payments due under our agreement it will take longer before you own the vehicle. You may wish to consider the impact this will have on any optional insurance or warranties that you have purchased from other providers. Note it is a requirement of your finance agreement that your car is fully and comprehensively insured and in a roadworthy condition at all times.

Will my existing payment deferral be automatically extended if it’s coming to an end?

No. We will send you a reminder shortly before your payments are due to restart. If you are unable to resume payments please contact us at least 7 days before the end of your agreed deferral period so that we may discuss your options.

Can I apply for a payment deferral at anytime

No. Currently the time you will be able to apply for an initial or further payment deferral will be up to 31 March 2021. After 31 March 2021, you will only be able to extend a payment deferral for a further period (up to a maximum of 6 months), if the request would see consecutive payments deferred.
Should you consider that you might require 6 full months of deferred payment, you should apply in good time before February 2021. This is because all payment deferrals must end by 31 July 2021.

Will having a payment deferral or missing payments affect my credit file?

If you are granted a payment deferral due to the Covid-19 outbreak your credit file will not be impacted. However, lenders may take into account other information when making future lending decisions, including, for example, information provided by you or bank account information.

After your deferral period ends, in line with FCA guidance, we will resume normal credit agency reporting.

 

Will I be charged for a late payment?

You will not be charged any late payment charges during this period of disruption caused by the Covid-19 outbreak.

Can I pause my motor finance agreement whilst I am unable to use my car due to social distancing?

Your finance agreement with us continues as normal even if you are unable to use your car. However, if you are experiencing temporary financial difficulty as a result of the Government’s directives to close many businesses and enforce social distancing, please contact us on [email protected] to discuss your circumstances.

What if I can’t afford to pay my car insurance premium?

It is a requirement of your finance agreement that your car is fully and comprehensively insured at all times. If you are experiencing difficulty in paying your premium, please contact your insurer to discuss other ways you may be able to pay or options for reducing your premium whilst maintaining the level of cover we require you to have.

What if my car needs a service or MOT?

Your agreement with us requires you to maintain the vehicle in good condition. You should follow the latest government guidelines, ensure your car remains roadworthy and contact your vehicle manufacturer or dealer with regards to servicing and repairs.

What if I am already behind with my payments?

We have procedures in place to support any customer impacted by Covid-19. We will review individual circumstances and work with you to find an appropriate solution.

What if my car needs a service or MOT?

Your agreement with us requires you to maintain the vehicle in good condition. You should follow the latest government guidelines, ensure your car remains roadworthy and contact your vehicle manufacturer or dealer with regards to servicing and repairs.

What if I am already behind with my payments?

We have procedures in place to support any customer impacted by COVID-19. We will review individual circumstances and work with you to find an appropriate solution.

Where can I get further help and advice?

There are a number of organisations which offer free, confidential and impartial debt advice

National Debtline Web: www.nationaldebtline.co.uk T: 0808 808 4000	Citizens Advice Web: www.adviceguide.org.uk (England & Wales) Web: www.cas.org.uk (Scotland)	Money Advice Service Web: www.moneyadviceservice.org.uk T: 0300 500 5000 (England & Wales) T: 0141 572 0237 (Scotland)
StepChange Debt Charity Web: www.stepchange.org T: 0800 138 1111	Samaritans Web: www.samaritans.org T: 1160123	Christians Against Poverty (CAP) Web: www.capuk.org T: 0800 328 0006

 

Are your offices open as normal?

We have implemented plans which are enabling us to continue serving our customers. However, following the Government’s most recent directive, we are operating with reduced staff in the office and this is impacting our service levels so please bear with us if it takes us a little longer than usual to answer a call or respond to a message or email.

 

Are you still lending?

Yes. We are keen to consider your lending proposals and discuss future opportunities for property acquisition, refinance, value-add propositions and portfolio refinance secured by residential or commercial property.

 

What are you doing to ensure that my case can complete on time / that if I place a case with UTB you will still be able to meet my requirements?

The Coronavirus is creating exceptional operating conditions for most businesses and we have implemented measures to ensure that we can maintain our services whilst having fewer staff in the office and most people working from home.

Our investment in technology has increased our capability to manage in unusual circumstances. Our team is able to work remotely with full access to client account information. They are picking up emails as normal and are available on their usual landline or mobile number. So far, our contingency plans are working well. Proposals are being considered and processed, credit decisions are being made and we are making payments when promised.

 

Are you still offering quick credit decisions?

Yes. Our credit committee continues to meet regularly with some participants dialling in via either voice or video conference facilities when they are not in the office. As such we continue to give dependable credit decisions.

 

Are completions / monthly pay outs still being made on time?

We’re doing everything we can to ensure these remain unaffected. Where third parties are involved, such as our solicitors and surveyors, we’re working closely with them to ensure we continue delivering an efficient service. If you have any specific concerns, please contact the structured finance team on 0207 190 5555 or e-mail the team using [email protected]

 

What support can you offer me if my existing lending with you is impacted by the consequences of the Coronavirus?

We understand that many businesses are facing financial and logistical difficulties at the moment. If you think your existing loan with us will be adversely affected by the Covid-19 outbreak, please discuss it with us. We may be able to offer solutions to help you overcome short term financial problems. Please email us using [email protected] and one of the team will get back to you.

Please be assured that we are making every effort to support people in financial difficulty.