UTB expands residential and buy-to-let ranges to include new builds

United Trust Bank Mortgages for Intermediaries has expanded its offering to include new build properties in its residential and buy-to-let mortgage ranges.

The move follows a recent reprice, with interest rates now starting from 4.84% for buy-to-let 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, and a maximum 5% new build incentive, including builder’s deposit.

All other criteria and product features are the same as standard, including residential mortgages up to a maximum LTV of 85% and loan size of £1m, and buy-to-let up to maximum 80% LTV and £1.5m.

Buster Tolfree, director of mortgages at 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.”