United Trust Bank has expanded its residential mortgage proposition with the launch of two new product tiers and a series of rate revisions, with pricing now starting from 4.94%.
The specialist lender has introduced new Super Prime and Specialist ranges, taking its total number of residential product tiers to five.
The move is designed to broaden the bank’s appeal, from borrowers with strong credit profiles through to those with a limited level of adverse credit.
Under the new structure, the Super Prime range offers lending of up to 85% loan-to-value for customers with no county court judgments or defaults recorded in the past 48 months.
The Specialist range provides lending of up to 80% loan-to-value for customers with up to two county court judgments and two defaults within the past 24 months.
Across the wider residential range, rates now start from 4.94% on selected products. United Trust Bank said the revised pricing and expanded criteria make the range suitable for borrowers with complex or multiple income streams, those with previous adverse credit, and applicants purchasing non-standard or unusual property types.
Interest only options are available across the range, and the lender said the changes are expected to be particularly relevant for remortgage customers, including those seeking to raise capital, consolidate debt, or manage more complex financial circumstances.
The launch of the two new residential tiers follows the recent introduction of the same Super Prime and Specialist classifications within United Trust Bank’s second charge mortgage range, alongside wider pricing changes that reduced second charge rates to as low as 5.39%.
Andrew Ferguson, commercial director of mortgages, buy-to-let and bridging at United Trust Bank, said: “We said there was more to come and we meant it. These enhancements to our residential range are great news for brokers who are increasingly seeing applicants who can’t get what they need from mainstream lenders.
“We’ve also revised our pricing across the range with residential rates starting from just 4.94%. What a way to kick off the New Year.
“UTB’s proposition is the best it’s ever been with flexible criteria, great rates and slick processing. Our aim this year is to arm brokers with the mortgage products they need backed by the service they deserve.”
