UTB reduces residential mortgage rates by up to 100bps

United Trust Bank (UTB) has announced significant rate reductions of up to 100 basis points across its residential mortgage range while introducing new high loan-to-value (LTV) products. These changes include the launch of 90% and 95% LTV options designed to support borrowers with smaller deposits who may not fit standard lending criteria. This move signals a strategic push by the specialist lender to enhance its competitiveness and provide brokers with more flexible solutions in an evolving housing market.

United Trust Bank (UTB) has implemented substantial price cuts to its residential mortgage offerings, with some rates falling by as much as 100 basis points. Following these adjustments, the lender's two-year fixed rates for Super Prime customers now start at 5.24%. For borrowers in the Prime Plus category, two-year fixed rates begin at 5.44%, while three-year and five-year fixed-rate options for the same group are priced from 5.59%.

In addition to the rate cuts, UTB has expanded its product suite with the introduction of new high-LTV mortgages aimed at Super Prime and Prime Plus borrowers. The new 90% LTV products carry a maximum loan size of £750,000, while the 95% LTV products are capped at a maximum loan size of £500,000. These additions are specifically intended to assist home buyers who have smaller down payments but require the specialized underwriting approach offered by UTB.

Andrew Ferguson, UTB’s commercial director for mortgages, BTL, and bridging, emphasized that these changes are part of a broader commitment to the specialist residential market. He noted that brokers require lenders who can pair competitive pricing with the flexibility to accommodate customers with non-standard circumstances. Ferguson stated that the rate reductions and higher-LTV products are key components of an ongoing investment program across the bank's mortgage, buy-to-let, bridging, and second charge lending divisions.