United Trust Bank Mortgages has reduced rates across its residential mortgage range by up to 0.20% and increased its maximum loan-to-income (LTI) ratio to 6x for applications up to £1m at under 85% loan-to-value (LTV).
The rates include options in their prime-plus, prime, and near-prime plans.
Prime-plus plans offer a Bank of England (BoE) lifetime tracker from +2.19%, 2-year fixed rate at 5.54%, 3-year fixed rate at 5.69%, and 5-year fixed rate at 5.79%, with a 5-year fixed with no early repayment charges (ERC) at 6.89%.
Prime plans provide a lifetime tracker from +2.34%, 2-year fixed rate at 5.99%, 3-year fixed rate at 5.94%, 5-year fixed rate at 6.44%, and a 5-year fix with no ERC at 7.54%.
Near-prime plans include a lifetime tracker from +3.24%, 2-year fixed rate at 6.89%, 3-year fixed rate at 6.84%, 5-year fixed rate at 6.84%, and a 5-year fix with no ERC at 7.94%.
Buster Tolfree (pictured), director of mortgages at UTB, said: “This combination of even lower, more competitive rates and the higher maximum LTI allows us to do more to support brokers and their customers.
“There isn’t a lot of good financial news around at the moment, and so this move will be welcomed by brokers trying to place specialist cases at the upper end of LTIs and affordability and can be applied to larger loans too.
“We’ve had a busy first quarter at UTB Mortgages, boosted by our 95% LTV range and £2m max loan size launched at the start of the year.”
Tolfree added: “We will continue to support the specialist market with keen rates and competitive criteria and stay on course for a year of record growth in mortgage lending.”
