UTB cuts second charge loan rates

It reduces rates by up to 1.14%

UTB cuts second charge loan rates

United Trust Bank (UTB) Mortgages for Intermediaries has announced interest rate reductions of up to 114 basis points on its second charge loans.

The lender’s 0-Status, five-year fixed rates at 65%, 70%, and 75% loan-to-values (LTVs) now have rates of 8.10%, 8.40%, and 8.65%, respectively. The same deals without early repayment charges have rates of 8.50%, 8.80%, and 9.20%.

Brokers can find full details of the new second charge Loan rates in the lender’s updated product guide.

UTB’s latest interest rate reductions follow the lender’s recent announcement that it had restructured the criteria for its BTL mortgage range, leading to significantly lower rates for many landlord applicants.

“This is more good news for brokers and customers who are trying to secure the best deals to help them fund home improvements, consolidate debts to make their outgoings more manageable or release equity from their homes for a myriad of other reasons,” said Caroline Mirakian (pictured), mortgages sales and marketing director at United Trust Bank.

“We are continually looking to find ways to offer competitive deals with the very best service, and these rate reductions prove once again that when brokers are looking for great value specialist mortgages to help their customers reach their goals, they should be talking to UTB.”

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