United Trust Bank (UTB) has launched a new range of residential mortgage products for first-time buyers.

The launch is the latest of a raft of new product launches and criteria enhancements introduced by UTB over the last 12 months, as it continues to develop its first and second charge specialist mortgage proposition.

Features of the new range include a maximum 80% LTV and £500,000 loan size, with two, three and five year fixed rates starting from 3.80%. Access to the products requires a minimum £25,000 income and a minimum £100,000 property value, while the products are available through gifted deposit, gifted equity and purchase at undervalue.

UTB commercial director – mortgages, Buster Tolfree, commented: “This is yet another step towards UTB offering a full suite of specialist mortgage products catering for customers requiring a bespoke underwriting approach rather than the sausage-factory attitude of more generic credit-score based high-street lenders.

“Brokers are increasingly discovering why UTB is a becoming a lender they should consider for cases needing more flexibility and common sense underwriting than mainstream lenders can deliver.”

“We’ve supported brokers throughout the pandemic and their feedback on the development of our product range and technology led service has been overwhelmingly positive. We’re looking forward to another busy year and more exciting changes to come.”

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