United Trust Bank Cuts Second Charge Mortgage Rates: New Lower Rates & Enhanced Features for UK Borrowers

Significant Rate Reductions Across UTB’s Second Charge Mortgage Products

United Trust Bank (UTB) has announced a substantial reduction in interest rates across a range of their Second Charge mortgage products, effective from Friday 12 September.

With rate cuts of up to 84 basis points, this update offers UK homeowners and property investors new opportunities for more affordable borrowing and increased flexibility.

Latest Second Charge Mortgage Rates: September 2024 Update

• Prime-Plus Plans:
  • 5-year fixed rate from 5.59%
  • 5-year fixed (no Early Repayment Charges) from 6.35%
• Prime Plans:
  • 5-year fixed rate from 5.84%
  • 5-year fixed (no ERC) from 6.50%
• Near-Prime Plans:
  • 5-year fixed rate from 6.99%
  • 5-year fixed (no ERC) from 7.35%

These new rates strengthen UTB’s position among the best second charge mortgage rates UK and provide competitive options for a broad range of borrower profiles.

Key Criteria Enhancements & Borrower Benefits

• No product fee on all loans under £40,000, helping smaller borrowers save on upfront costs.
• Maximum loan size increased to £1 million up to 80% loan-to-value (LTV) on ERC plans, opening greater opportunities for larger projects or debt consolidation.
• Unlimited overpayments now allowed on ERC (Early Repayment Charge) plans—ideal for borrowers wishing to pay down their loan flexibly.
• Loans now available up to 90% LTV, providing access to higher borrowing for those with limited equity.
• Automated Valuation Model (AVM) criteria improved for quicker and potentially paperless underwriting.

These updates particularly benefit homeowners seeking flexible and high LTV second charge mortgages, those remortgaging for home improvements, or consolidating debts.

Special Promotions & Features from United Trust Bank

• No product fees under £40k: Maximise loan proceeds without extra costs for smaller borrowing requirements.
• Unlimited overpayments: Make repayments at your pace, minimising future interest without penalty on ERC plans.

Enhanced criteria and increased maximum loan limits ensure these products cater to a wider range of needs, from home renovations to business capital or investment property enhancements.

Why Choose United Trust Bank for Your Second Charge Mortgage?

• Competitive fixed rates with a choice to avoid ERCs for ultimate repayment flexibility.
• More accessible high LTV options—ideal for those with less equity or seeking larger advances.
• Specialist criteria and simplified AVM (Automated Valuation Model) policies enable faster decisions.
• Strong reputation—United Trust Bank is fully authorised and regulated in the UK, focusing on specialist lending.

Conclusion: Act Now to Access New, Lower Second Charge Rates

If you’re considering releasing equity, consolidating borrowing, or planning a major home improvement, these new rates and enhanced features from United Trust Bank make now an excellent time to review your options. Contact our expert mortgage advisors today for a personalised comparison and find the best second charge loan for your circumstances.

• Call us for guidance on the latest second charge offerings
• Discuss your eligibility and borrowing capacity
• Receive impartial, whole-of-market mortgage advice UK-wide

Frequently Asked Questions: United Trust Bank Second Charge Mortgages

• Who is eligible for UTB Second Charge mortgages?
  UK homeowners with sufficient equity, including those seeking high LTV borrowing, debt consolidation, or home improvement funding.
• How do the rate changes affect my repayments?
  Lower rates can reduce monthly payments, making borrowing more affordable. Our advisors can provide tailored repayment examples.
• Can I pay off my loan early without fees?
  Yes—ERC-free plans have no early repayment charges, and standard ERC plans offer unlimited overpayments.
• Are UTB’s products suitable for debt consolidation?
  Yes—UTB’s flexible criteria and high LTV options suit borrowers consolidating debts or needing larger advances.
• How do I apply or check my eligibility?
  Contact our team or visit our application portal for more details and to start your application.