It also reduces rates of residential, BTL, and second charge products
United Trust Bank (UTB) has announced a number of enhancements and rate reductions across its residential, buy-to-let and second charge product range.
The specialist lender has launched new lifetime trackers with rates from Bank of England (BoE) base rate plus 2.64% on its purchase, remortgage, interest only, mortgage prisoner, and unencumbered products.
UTB has also expanded its range of buy-to-let deals, including 2%, 3%, 4%, and 5% product fee variants, and reduced the interest rates on its BTL standard range by 30 basis points (bps).
In addition, the lender has reduced its second charge lifetime tracker rates by up to 75bps with rates now available from BoE base rate plus 3.14%.
Brokers can find details of all the new rates and product changes in UTB’s updated residential and buy-to-let product guides.
“It’s not easy out there for brokers at the moment, and we’re always looking for ways to support our introducers and help them to keep writing business,” said Buster Tolfree (pictured), director of mortgages at United Trust Bank. “Although some stability has returned to the mortgage market, inflation is still high, and the outlook for the economy and the residential property market remains uncertain.
“At times like these brokers want to know that they can rely on their lenders to stand by them and do what they can to give them options. Expanding our range and reducing our interest rates is good news for brokers and their clients.
“This isn’t the first time the bank has had to navigate a challenging environment, and it probably won’t be the last, but we have continued to lend, to invest in great people and technology, and create products brokers can confidently recommend to their customers.”
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