United Trust Bank (UTB) has expanded its BTL product offering to include new build properties.
With evidence of an appropriate new build warranty or certificate, UTB will now accept off-plan purchases (subject to re-inspection before completion), as well as maximum 5% new build incentives, including builder’s deposit.
All other criteria and product features are the same as standard — borrowers can obtain BTL loans up to £1.5m at maximum 80% LTV, with interest rates from 4.84%.
Buster Tolfree, director of mortgages at UTB (pictured above), commented: “This expansion of our product range gives brokers more choice for clients who want to buy a brand-new home but have a complex income or credit history blips.
“At UTB, we are all about helping people to fulfil their property dreams even if they don’t fit the criteria of mainstream lenders.
“I’m delighted that our common-sense and flexible approach to property types, incomes and historic adverse now extends to this important sector of the property market.”
