United Trust Bank Mortgages has wrapped up a week of significant service and criteria enhancement announcements across its residential mortgage and second charge loan range.
As part of the changes, the Bank has introduced consent to follow for second charge loans. UTB now progresses second charge applications to completion with consent to follow accepted where the first charge is with one of 20 listed lenders. This change removes one of the most common delays in packaging and means customers can complete faster without waiting for first charge consent upfront.
Written explanations for historic adverse are no longer needed for UTB’s super prime, prime plus or prime applicants — reducing back and forth and accelerating underwriting.
In addition, UTB is now only verifying 50% of the buy-to-let portfolio in a personal name.
Re-inspections have also been removed for new build. Where a valuation report includes a valuation figure, UTB is now happy to rely on the new build warranty certificate, removing cost and delay associated with re-inspections.
Also unveiled is a new streamlined accountants certificate document, reduced from five pages to two, alongside enhancements to bonus income assessments, applicants in probation criteria, post benefit affordability and deeds of consent/occupiers waivers.
Andrew Ferguson (pictured), commercial director of mortgages, buy-to-let and bridging at United Trust Bank, said: “We’re making the things that slow brokers down disappear. These changes are all about giving brokers greater clarity, consistency and confidence from the outset — so cases move more smoothly from application through to offer.
“By reducing unnecessary packaging requirements, simplifying documentation and creating more predictable underwriting outcomes, we’re helping brokers spend less time chasing and more time progressing and originating business. Ultimately, it means faster journeys, better experiences for customers and a product range that works harder for the intermediaries we support every day.”
