Specialist lenders post impressive Q1, boosting lending and market reach
Two banks have marked a strong start to 2025 with milestone achievements in lending volumes and balance sheet growth.
United Trust Bank (UTB) Mortgages reported that it has exceeded £2 billion in total mortgage lending since launching into the sector.
The milestone caps off a record-breaking first quarter for the lender, which has introduced several product and criteria enhancements, including 95% loan-to-value (LTV) mortgages and an increase in its maximum loan size to £2 million.
The lender also rolled out a new Broker API, enabling mortgage brokers to manage applications more efficiently by handling affordability checks, credit searches, document uploads and decisions in principle through a single platform.
“We set out to help brokers have a successful start to 2025 with rate drops, criteria enhancements and continuing to improve application processing and service through investment in technology,” said Buster Tolfree (pictured left), director of mortgages at United Trust Bank. “That activity has translated to record amounts of new business, and I’m delighted to say has rocketed us through the milestone of £2 billion of lending well ahead of forecast.”
Meanwhile, challenger bank GB Bank has announced that its balance sheet has passed the £2 billion mark.
The bank attributed the growth to a £90 million injection of growth capital received since May last year, and the achievement of profitability by October.
Over the past six months, the bank has expanded its property loan portfolio to more than £200 million. Its paid-up share capital now stands at approximately £145 million. GB Bank has also raised its loan limit to £20 million per borrower and plans to further increase this in response to rising client demand.
“This has been a period of rapid yet sustainable growth for the bank as we continue to tap significant demand for our fast, flexible financing solutions,” said Mike Says (pictured right), chief executive of GB Bank. “While we are undoubtedly proud of hitting landmark figures, such as £2 billion on our balance sheet, we are even prouder of reaching sustainable profitability in such a short time.”
GB Bank provides lending products, including buy-to-let mortgages, specialist residential and commercial loans, and bridging finance, delivered both directly and through broker partnerships. It also supports SMEs and works with non-bank lenders through forward-flow arrangements.
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