United Trust Bank has reintroduced residential second charge lending at up to 90% loan-to-value and reduced selected rates by as much as 60 basis points.

The changes, available from August 3, apply across the lender’s prime, near prime and specialist ranges.

Loans at up to 90% LTV are again available through UTB’s Super Prime, Prime Plus and Prime ranges for advances of between £20,000 and £100,000.

The bank has also cut rates by up to 60 basis points on selected fixed-rate products. Fixed rates now start at 6.09% for Super Prime, 6.24% for Prime Plus, 6.64% for Prime, 7.29% for Near Prime and 7.49% for Specialist products.

UTB said the changes would give brokers more options for customers seeking to release capital for home improvements, debt consolidation and other borrowing needs without changing their existing first charge mortgage.

Buster Tolfree, director of mortgages, buy-to-let and bridging at United Trust Bank, said: “The second charge market continues to grow and evolve as more homeowners recognise the value, flexibility and speed of second charge loans and the convenience of accessing equity in their home, especially if they want to retain a competitive first charge mortgage.

“Reintroducing lending up to 90% LTV and reducing rates across key parts of our range means brokers have even greater flexibility to help customers achieve their financial goals.

“We’re continually reviewing our proposition to ensure it reflects changing market conditions and broker feedback. Whatever the purpose of the loan, our focus remains on providing competitive products, flexible criteria and the high levels of service brokers expect from UTB.”