Members can save an average of £300, it claims
United Trust Bank (UTB) Mortgages has introduced free valuations on residential mortgages for its UTB Premier Club members.
The bank launched its Premier Club in April, targeting a select group of mortgage packagers. The club provides access to semi-exclusive rates, criteria, and features for brokers handling specialist mortgage applications through these packagers.
In June, UTB Mortgages increased its maximum loan-to-income (LTI) ratio to six times on all residential mortgages up to 70% loan-to-value (LTV). Now, all residential first charge applications, including purchases, remortgages, first-time buyer (FTB) loans, and unencumbered properties, submitted by Premier Club members will receive a free valuation instructed through Pure Panel Management. This change will save customers an average of £300, it stated.
“This is another great benefit for Premier Club members and brokers who use them to support their specialist mortgage applications,” said Buster Tolfree (pictured), director of mortgages at United Trust Bank. “As the market continues to evolve, with issues like adverse credit affecting more and more people, it’s a sector of the house buying population which is only getting bigger. As these customers often need more help and advice, this presents a great opportunity for brokers and lenders operating in the specialist space.”
The move is the latest from UTB in the broker space. In May, the company spoke to Mortgage Introducer about its plans to target unregulated market growth, with director of bridging Sundeep Patel speaking about how the bank’s bridging team was recently restructured. The move saw the establishment of separate regulated and unregulated teams, shortly after the company brought in a new key account manager for London.
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