Tenet is first network to offer UTB’s mini-mortgage

By Bridging Loan Directory 4th July 2018

Tenet is the first network to be given access to the new United Trust Bank (UTB) first-charge ‘Mini-Mortgage’ product, for loans of up to £100,000.

The product has been designed to enable customers who own their homes outright to release equity, as well as for purchases and remortgages, and is available from £5,000 to £100,000 and up to 75% of LTV.

UTB does not require a minimum credit score and interest rates include Bank of England Base Rate lifetime trackers and five-year fixed rates starting at 4.9% with no early redemption charges.

Simon Broadley, managing director of TenetLime comments:

“We’re pleased to be selected as the first network to launch with this product.

UTB’s Mini-Mortgage will be a useful addition to our brokers’ toolkit as it could help a wide spectrum of consumers, from first time buyers to older borrowers.”