UTB will also begin including 50% of regular income including bonus, overtime and commission payments providing the additional income has been consistent over the lockdown period and before.

This, combined with the increase of the self-employed LTV from 65% to 75% on its entire range of residential first and second charge mortgages, is part of its campaign to get the mortgage industry back open for business.

The campaign, which you can support and follow using #BrokerSummerSupportPackage, will run over coming weeks and will see the bank announce a number of mortgage product, criteria and technology enhancements which it believes will enable brokers to write more business, despite the challenging economic environment.

UTB will regularly announce additional elements of the #BrokerSummerSupportPackage campaign from now until September and more information can be found here.

Buster Tolfree, commercial director, mortgages, said: “2020 has been a difficult year for brokers and lenders and the way to turn it around is by working together.

“We want to help our broker and business partners by implementing a number of positive changes which will increase the range of options available to their clients as well as make it easier for brokers to process applications with UTB.

“We will be expanding our proposition and giving brokers greater choice whilst still lending responsibly.

“UTB has continued to lend throughout the pandemic and we understand the vital role brokers play in the specialist mortgage market.

“Our success relies on professional and knowledgeable intermediaries being able to advise customers who may not be best served by High Street lenders that there are other options available.

“We’re hoping that by developing UTB’s range we can help brokers place more cases, help more customers and rebuild their businesses.”