United Trust Bank’s specialist mortgage division has completed a £1.7m remortgage in 25 working days, helping a borrower with complex income structures to exit an expired bridging loan and avoid further penalties.
The borrower had used bridging finance to purchase a £2.7m property but was nearing the end of the facility, facing escalating interest and charges. With multiple income sources across five limited companies under a holding company, alongside a sole trader business and standard employment, the case demanded manual underwriting and swift execution.
United Trust Bank said it was chosen for its flexible approach and track record of handling complex cases efficiently.
Caroline Mirakian, sales and marketing director at United Trust Bank, said the case exemplified the bank’s ability to respond quickly to high-value, intricate mortgage needs.
“Completing this case demonstrates that UTB has a genuine appetite to deliver large mortgages and has the processes and people required to deliver them quickly,” she said.
“More and more brokers are bringing us deals the mainstream market either won’t touch or will take too long to underwrite and complete.”
The deal comes as UTB continues to expand its mortgage offering. The bank recently surpassed £2bn in mortgage lending and has introduced a number of product and criteria enhancements. These include doubling the maximum loan size to £2m and launching 95% LTV mortgage products. A newly released broker API is also expected to reduce processing times by allowing intermediaries to run credit searches, check affordability and submit documentation in a single platform.
Mirakian noted that the profile of specialist borrowers is evolving, with growing demand from clients whose income does not fit traditional lending models. “It’s no longer just about borrowers with adverse credit, it’s about providing swift solutions to customers who need a flexible underwriting approach, reflecting that the way people now earn their living is evolving, regardless of how much they want to borrow,” she said.
