United Trust Bank broadens buy-to-let criteria

United Trust Bank Mortgages has announced a new package of buy-to-let criteria enhancements. The latest changes remove unnecessary barriers, broaden eligibility and simplify a number of key lending requirements.

The maximum mortgage term has increased to 30 years and the minimum ownership period requirement has been removed, allowing day one remortgages.

Previous landlord experience is no longer required for HMOs up to six beds or MUBs up to four units, making specialist buy-to-let finance accessible to more landlords.

The maximum exposure limit has increased to 10 buy-to-let loans or £3 million per applicant, supporting experienced portfolio investors.

In addition, UTB has simplified case packaging, with income evidence, background portfolio information and deposit verification are now only requested where appropriate.

The enhancements also introduce clearer criteria across specialist property types including HMOs, MUBs, holiday lets, expatriate landlords and SPVs, alongside simplified guidance around gifted deposits and leasehold requirements.

Andrew Ferguson, commercial director of mortgages, buy-to-let and bridging at United Trust Bank, commented: "The specialist lending market doesn't stand still and neither do we. At UTB, we're always looking at every stage of the broker journey and asking one simple question – how can we make it easier for brokers to do business with us?

"Whether it's reducing the information we ask for, broadening eligibility or increasing flexibility for landlords, every enhancement has been introduced with one objective – helping brokers place more buy-to-let business with greater confidence and less administration.

"Continuous improvement is part of our culture. We'll keep listening to broker feedback and investing in our proposition, our people and our processes to ensure we're delivering the service, flexibility and certainty brokers expect from a leading specialist lender.”