Monday, January 15, 2024
Get in touch
£11.5m refinancing of converted office block secured for complex ownership structure
Silbury provides additional £33 million loan for 292-home Old Kent Road residential scheme, taking total facility to £101 million
Construction starts on £140m 24-storey Battersea tower
United Trust Bank (UTB) Mortgages for Intermediaries has announced a reduction in interest rates for its second charge loan range, with cuts of up to 70 basis points.
Prime borrowers can now access 5-year fixed rates starting from as low as 6.59%. Alongside rate reductions, the lender has increased the maximum loan-to-income ratio (LTI) to 4.0 for all products between 80-85% loan-to-value (LTV). This includes 3-year fixed rates from 7.69% and 2-year fixed rates from 7.59%.
Additionally, UTB has lowered product fees for loans under £25,000 to £395, enhancing their competitiveness in total cost of credit for smaller loans. Caroline Mirakian, sales and marketing director for mortgages, said: “As the economic outlook continues to improve, we believe 2024 will be a record year for the second charge market.”
Call Trinity Specialist Finance to secure a mortgage on 020 7016 6151 or book a consultation
Share on:
Aaron has been quoted in
