United Trust Bank has passed the £1bn milestone of specialist mortgage lending, following 50% year-on-year growth in new mortgage lending from 2020 to 2021.

The total includes first and second charge residential mortgages across the bank’s product range.

UTB Mortgages, the bank’s mortgage division, launched in 2015 with a limited range of second charge mortgages.

The bank has since expanded its product range to include residential first charge mortgages for home purchases and remortgages, including interest only and first-time buyers.

United Trust recently announced the appointment of Barry Luhmann to develop and launch a buy-to-let proposition.

In the last three years, the bank has integrated digital solutions and third-party services into its mortgage application process including an automated valuation model, app-based biometric ID verification, secure messaging and document upload. It has also introduced an online decision in principle (DIP).

United Trust Bank director of mortgages Buster Tolfree says the £1bn milestone is “a fantastic achievement”.

“UTB Residential Mortgage and Second Charge loans are now accessible through every major network, club and distributor and our range continues to develop and evolve,” Tolfree adds.