Second charge lending is increasing as more borrowers seek to avoid ERCs and hold on to low first charge interest rates when releasing equity from their homes. The FLA recently reported over £228m of second charge lending in a single month, highlighting strong and sustained demand across the market. With affordability tightening, flexible capital raising options are firmly back in focus. UTB’s criteria and case friendly approach help brokers place more cases, faster.
UTB’s Key Offering & Criteria Highlights
High LTV and Strong Loan Options
- Lending available up to 85% LTV
- Loan sizes up to £1m to 80% LTV
- 6× LTI up to 80% LTV
- No ERC options available
Flexible Eligibility for Real World Client
- Married or sole applications accepted
- Multiple loan purposes, including some business uses
- Binding Offers can be issued with special conditions
- Unlimited overpayments
Supportive Approach to Adverse
- Mail order & communications arrears ignored
- CCJs/defaults under £300 ignored
- Missed mortgage payments within 30 days ignored
- IVA accepted after 1 year discharged
To place your next case or to find out more: www.utbank.co.uk/intermediaries/mortgages/
Call the UTB Team on:020 7031 1551 or email mortgage.enquiries@utbank.co.uk