United Trust Bank posted gross new lending up 5.6% to £1.9bn last year as home loans became a larger part of its business.
The bank’s loans include asset and bridging finance, mortgages, and lending to small firms.
The lender said in mortgages last year that, “despite competition from new entrants, the bank has benefited from growth in the second charge market, and continuing growth in its maturing buy-to-let proposition.
“First charge lending was more subdued in 2024 as the bank relaunched its proposition and expects to see increased lending in this segment in 2025.”
The lender’s loan book lifted 13% to a record £3.5bn, with mortgages accounting for £1.2bn, it said in its annual accounts.
It added: “Mortgages have become a bigger proportion of the loan book in 2024.”
Overall, the bank posted a pre-tax profit up 4% to £86.4m.
United Trust Bank chief executive Harley Kagan said: “The macroeconomic environment over recent years has been uncertain and UTB has worked hard to remain flexible and to support its customers and build the business.”
