UTB Reduces Second Charge Loan Pricing With Rates Now Available From 6.99% with Immediate Effect

01 December 2023

United Trust Bank (UTB) Mortgages for Intermediaries has announced a raft of substantial rate reductions for its range of Second Charge Loans, creating market leading options for brokers and customers.

The specialist lender’s rates now start from just 6.99%*. It is the first time Second Charge Loan rates have dipped below 7% since the Truss/Kwarteng mini budget.

UTB’s 1 & 2 Status plans are now priced up to 100bps lower and 0-Status plans are now up to 56bps lower with 5-year fixes with an ERC from just 6.99%.

Brokers can find full details of the new Second Charge Loan rates in the updated product guide: HERE

Caroline Mirakian, Sales and Marketing Director – Mortgages, United Trust Bank said: “As an established and significant player in the Second Charge market, brokers look to us to lead where others follow. We listen to introducers and move quickly to offer great products and competitive pricing.

“There are encouraging signs that we’re through the worst of the rate hike pain and I’m delighted that UTB is the first Second Charge lender to offer a sub 7% rate in over a year. With rate reductions across the Second Charge board, we’re making affordability easier for customers, enabling them to borrow what they need and helping brokers write more business.”