EXCLUSIVE: UTB eyes up secured loan market

Harley Kagan, managing director of United Trust Bank, said: “United Trust Bank has had another successful year and our ambition is to keep working with the intermediary market and grow the business.

“We continually explore options for extending the range of products suitable for the intermediary market and one of those is the potential to offer second charge loans. It is a service which would complement our existing product range.”

Mark Fry, managing director of Colonial Secured Loans, said: “This is another positive step for the secured loan market going forward in 2014. The more lenders there are in the market the better as this encourages competition.”

And Tim Wheeldon, joint managing director of Fluent Money, added: “It is always great news to hear about a new entrant. We look forward to see what they can bring to the market.”