United Trust Bank (UTB) has increased its maximum first charge residential mortgage size to £1m.

The specialist lender says it made the move following feedback from brokers that there is increasing demand for larger mortgages from customers who are not being served by mainstream lenders.

The products are available on residential purchases for existing homeowners, First Time Buyers and for remortgages on a capital repayment or interest-only basis up to 85% LTV.

Affordability on interest-only mortgages is assessed on the interest payment only.

Customers with previous adverse credit will be considered, subject to criteria, as will unusual property and build types including steel frame, timber frame, listed buildings, ex-Local Authority houses and high-rise flats and maisonettes.

United Trust Bank director of mortgages Buster Tolfree says: “Brokers are telling us there’s significant demand for larger mortgages from customers who don’t fit the criteria of mainstream lenders.

“Our combination of smart technology supported by personal underwriting enables us to provide substantial, competitive mortgages to borrowers who may be blocked from the high street for small credit blips or because the home they want to buy is more interesting or unusual than straightforward brick and tile.”