United Trust Bank Mortgages has completed a £1.7m remortgage for applicants with complex income in just 25 working days.
The remortgage was needed to exit a bridging loan which was used to purchase the borrowers’ £2.7m home and they also required a quick completion.
The original bridging term had already expired, and the borrowers were facing punitive interest and charges.
They chose to approach UTB due to the Bank’s manual underwriting, and because the applicants had complex incomes derived from five limited companies through a holding company, a sole trader business and employed roles.
Caroline Mirakian, sales and marketing director at United Trust Bank, said: “Completing this case demonstrates that UTB has a genuine appetite to deliver large mortgages and has the processes and people required to deliver them quickly.
“The criteria enhancements and continued improvements to our application processing and service we have implemented this year are really paying dividends.
“More and more brokers are bringing us deals the mainstream market either won’t touch or will take too long to underwrite and complete.
“The specialist mortgage market serves an increasingly diverse customer base. It’s no longer just about borrowers with adverse credit, it’s about providing swift solutions to customers who need a flexible underwriting approach, reflecting that the way people now earn their living is evolving, regardless of how much they want to borrow.”
