United Trust Bank launches two new second charge ranges

United Trust Bank Mortgages has expanded its second charge loan product range revised rates across the board, now starting from 5.39%.

The range has been expanded to offer five tiers of products, catering for a wider range of customers, from those with perfect credit through to customers with some adverse credit history. 

The two new products include 'Super Prime', lending up to 90% LTV for customers with no CCJs or defaults in the last 48 months, and 'Specialist', lending up to 80% LTV for customers with up to two CCJs and two defaults within the last 24 months.

The new range offers unlimited overpayments and reduced fees - loans below £60,000 are now £595, plus no fees for loans up to £40,000.

The proposition also offers a wider borrowing range, from £25,000 up to £1m, and the prime range now allows one CCJ or default in the last 24 months.

The launch of the two new second charge ranges follow the recent introduction of UTB's new e-deeds and e-DDM process which accelerates and simplifies applications by allowing customers to sign their mortgage deeds and direct debit mandates online with no paperwork or delays.

Andrew Ferguson, commercial director of mortgages, buy-to-let and bridging at United Trust Bank, said: “These additions to our second charge range give brokers even more opportunities to help their customers and place more cases, particularly those who fall outside of mainstream lenders’ criteria because of their circumstances or property type. And with rates starting from just 5.39%, brokers can offer some cracking UTB deals.

“This is yet another example of UTB finding new ways to enhance our offering, making it even easier for brokers to choose UTB for their specialist customers knowing we offer great service and excellent value for money. Watch out for more great enhancements coming soon!”