UTB intros second charge product transfers in industry first Mortgage Strategy

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United Trust Bank has introduced product transfer options for residential and second charge mortgages.

The specialist lender says offering a second charge product transfer (PT) option is an industry first.

It will offer mortgage advisers 1% procuration fee on second charge PTs and 0.4% on PTs for residential mortgages.

Rates on residential deals start at 6.99% for a two-year fix and 7.09% for a five-year fix, with a £995 product fee. 

For second charge products, two-year fixes start at 7.39% and five year fixes are from 6.79%, also with a £995 fee.

However, the lender says available interest rates are dependent on the original customer status, LTV and application profile, and will be confirmed upon initial enquiry.

UTB has added a new option to its online portal entitled ‘Product Transfer Enquiry Form’, where the lender’s registered introducers can apply for these products.

United Trust Bank director of mortgages Buster Tolfree says: “We recognise how important it is for brokers to be able to give their customers certainty and peace of mind as they approach the end of their initial fixed rate period. We are delighted to launch these new product transfer options for UTB customers, especially our industry first second charge product transfer.”


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