UTB Mortgages Expands Residential and BTL Range to Include New Builds

United Trust Bank (UTB) Mortgages for Intermediaries has announced that it has expanded its offering to include new build properties in its range of residential mortgage and BTL products.

The move follows a significant recent reprice, with interest rates starting from just 4.84% for BTL and 5.99% for residential mortgages, and a restructure and widening of its credit criteria with new acceptable adverse rules across its entire range, catering for wider customer needs.

With evidence of an appropriate new build warranty or certificate, UTB will accept:

  • Off-plan purchases, subject to re-inspection before completion
  • Maximum 5% new build incentives, including builder’s deposit

All other criteria and product features are the same as standard, including:

  • Residential mortgages up to maximum 85% LTV and £1m, with interest rates from 5.99%.
  • BTL up to maximum 80% LTV and £1.5m with interest rates from 4.84%.

Brokers can find full details of the changes in the updated product guide: HERE

Buster Tolfree, Director of Mortgages – United Trust Bank, commented: “This expansion of our product range gives brokers more choice for clients who want to buy a brand-new home but have a complex income or credit history blips. At UTB we are all about helping people to fulfil their property dreams even if they don’t fit the criteria of mainstream lenders. I’m delighted that our common sense and flexible approach to property types, incomes and historic adverse now extends to this important sector of the property market.”