United Trust Bank reduces second charge rates


Caroline Mirakian United Trust Bank

United Trust Bank (UTB) Mortgages for Intermediaries has reduced interest rates across its Second Charge Loan range by up to 70bps and 5yr fixed rates for prime borrowers now start from just 6.59%.

The specialist lender has also increased its maximum loan to income ratio (LTI) to 4.0 for all 80-85% LTV products.

Example rates:

  • 5yr fixes from 6.59%
  • 3yr fixes from 7.69%
  • 2yr fixes from 7.59%

UTB also recently reduced its Second Charge product fees for loans under £25,000 to £395, making the Bank even more competitive on Total Cost of Credit measures for smaller loans.

Caroline Mirakian, Sales and Marketing Director – Mortgages, United Trust Bank said:

“UTB has been a driving force in the Second Charge market for nearly a decade and lower rates, lower fees and higher LTVs are fantastic news for brokers and customers to start the year with!

As the economic outlook continues to improve, we believe 2024 will be a record year for the second charge market.

We’re committed to offering brokers the best range of specialist mortgage products, pricing and service and doing all we can to help them deliver the excellent outcomes their customers deserve.“