United trust Bank (UTB) has announced the launch of a new campaign to help the mortgage industry get “back open for business”.

The Bank suggested it will be unveiling several mortgage product, criteria and technology enhancements over the coming weeks which it believes will enable brokers to write more business, despite the economic uncertainty arising from COVID-19.
 
UTB has started by increasing its maximum LTV available to self-employed applicants from 65% to 75% on its entire range of residential first and second charge mortgage products.
 
The Bank also revealed it has moved to including 50% of all regular income including bonus, overtime and commission payments – providing the additional income has been consistent during the lockdown period and previously. 
 
UTB commercial director mortgages, Buster Tolfree, commented: “We want to help our broker and business partners by implementing a number of positive changes which will increase the range of options available to their clients as well as make it easier for brokers to process applications with UTB. We will be expanding our proposition and giving brokers greater choice whilst still lending responsibly.
 
“UTB has continued to lend throughout the pandemic and we understand the vital role brokers play in the specialist mortgage market. Our success relies on professional and knowledgeable intermediaries being able to advise customers who may not be best served by high street lenders that there are other options available.

“We’re hoping that by developing UTB’s range we can help brokers place more cases, help more customers and rebuild their businesses.”

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