It also expands property development division with new arrivals
United Trust Bank (UTB) has announced it has passed the £1 billion milestone for specialist mortgage lending, achieving the feat following an impressive 50% year-on-year growth in new mortgage lending from 2020 to 2021.
The total figure includes first and second charge residential mortgages across the bank’s product range.
The bank’s mortgage division, now known as UTB Mortgages for Intermediaries, was launched in 2015 with a limited range of second charge mortgages designed to cater for more complex customers underserved by mainstream lenders.
UTB has since developed its proposition to include residential first charge mortgages for home purchases and remortgages, including interest only and first-time buyers.
The bank recently announced the appointment of Barry Luhmann to develop and launch a buy-to-let proposition based on the same successful application platform, offering digital processes supported by skilled and knowledgeable staff.
It has also made significant investments in technology, integrating a number of digital solutions and third-party services into its mortgage application journey over the last three years. Services such as AVMs, App based biometric ID verification, secure messaging and document upload enabled UTB to keep lending throughout the pandemic.
UTB has since introduced an enhanced online DIP which includes an element of automated-underwriting enabling brokers to receive real time decisions 24 hours a day, 365 days a year, with bespoke case-level requirements.
“This is a fantastic achievement, made possible by a great team of people who’ve worked incredibly hard to earn UTB a seat at the specialist mortgage table. We’re growing quickly, moving into new markets, and establishing a great reputation among brokers, distributors and borrowers,” Buster Tolfree, director of mortgages at United Trust Bank, said. “£1 billion of mortgage lending is great, and hopefully the next milestone arrives even quicker.”
Meanwhile, UTB has also announced the appointment of three new property development directors and managers as it continues to expand its property development division.
Neil Birse has been appointed as a director in the property development team. He has worked in banking for 30 years, the last 17 of which he has specialised in providing development finance to housebuilders and developers. He joined UTB from Assetz Capital but has also worked with Bank of Ireland, Bristol & West, and RBS.
Tim Manley, appointed as manager in the property development team, has 15 years of corporate and real estate banking experience and joined UTB from Bank of London & Middle East. He has also worked with lenders, including ABC International Bank and Barclays.
Ross McCarthy has been appointed manager in the property development team too. He has worked for UTB in the case management team for the last two years, and prior to that, with specialist lenders including AIB and Arbuthnot Latham.
The bank is continuing its expansion of the division with more locally based property development directors and managers working with housebuilders to provide a range of development finance and developer exit solutions.
