United Trust Bank has launched a range of interest-only products for residential borrowers.

The products are available at up to 75 per cent LTV, or 70 per cent LTV if downsizing, and can be used for purchasing or remortgaging.

The mortgages come in two- and five-year fixes and UTB asks for no minimum credit score.

The lender says that multiple repayment vehicles ae valid, including cash, pension lump sums and the sale of investment property.

UTB commercial director of mortgages Buster Tolfree says: “We believe we’ve created a compelling offer for those borrowers who may not fit the strict tick-box approach of many mainstream lenders.

“Our common sense underwriting approach, pragmatic and rounded way of assessing borrower profiles and their security properties has made UTB an increasingly popular choice amongst specialist mortgage intermediaries and given additional options to those who may have found their choice of lenders somewhat restricted of late.”

Yesterday, UTB announced the hiring of ex-Metro Bank managing director Mark Stokes to work as its chief commercial officer.