United Trust Bank’s mortgage loan book has topped £1bn since it launched seven years ago, which comes as the specialist lender’s Mortgages for Intermediaries unit predicts new business deals will jump by almost a quarter this year.
The bank broke into the active mortgage market with a second charge offering in 2016, before expanding its loans to first charge purchases, remortgages and unencumbered properties in 2020, followed by a specialist buy-to-let range last year.
The business completed the key hire of Caroline Mirakian as sales and marketing director of its mortgage division, in May, to develop its distribution, particularly among clubs, networks and packagers.
The broker-only unit expects to grow by 24% this year, which would be the division’s third consecutive year of 20%-plus growth.
Last week, the lender said it would start accepting passing rent figures declared by landlords to a maximum of 10% over the rent verified by a valuer.
United Trust Bank director of mortgages Buster Tolfree says: “This is a momentous milestone for the bank and a fantastic achievement.”
“We have built our reputation on being a dependable specialist mortgage lender, that is happy to take a view on cases which fall outside of the norm, and who is committed to supporting brokers through whatever the market and economy can throw at us.”
