United Trust Bank (UTB) has launched interest-only residential mortgage products as the final part of its #BrokerSummerSupportPackage.
Features of UTB’s new interest-only mortgages include:
- Maximum 75% LTV (70% for downsizing)
- Affordability assessed on interest-only monthly repayment
- Available for purchase and remortgage
- No minimum credit score
- Flexible on property construction types
- Multiple repayment vehicles accepted including cash savings, pension lump sums and sale of investment property
- 2-5 year fixed rates available including no ERC option
Buster Tolfree (pictured), commercial director – mortgages, United Trust Bank, said: “Within this ‘interest-only’ residential mortgage product range, we believe we’ve created a compelling offer for those borrowers who may not fit the strict tick-box approach of many mainstream lenders.
“Our common sense underwriting approach, pragmatic and rounded way of assessing borrower profiles and their security properties has made UTB an increasingly popular choice amongst specialist mortgage intermediaries and given additional options to those who may have found their choice of lenders somewhat restricted of late.
“During the last three months we have made a lot of effort to promote our #BrokerSummerSupportPackage and we have continued to improve, enhance and innovate, despite the challenging environment. As a result, more and more brokers are finding out why UTB is becoming a key consideration for their specialist mortgage customers who need a bit more care and flexibility than the High Street is prepared to give.”