United Trust Bank Mortgages for Intermediaries has cut interest rates across its second charge range by up to 70 basis points, with five-year fixes for prime borrowers starting at 6.59%.  

The specialist lender has also lifted its maximum loan-to-income ratio to 4 times for all 80% loan-to-value to 85% LTV products.  

Highlights of its reductions include:  

• Five-year fixes from 6.59%  
• Three-year fixes from 7.69%  
• Two-year fixes from 7.59%  

United Trust Bank sales and marketing director – mortgages Caroline Mirakian says: “As the economic outlook continues to improve, we believe 2024 will be a record year for the second charge market.

“We’re committed to offering brokers the best range of specialist mortgage products, pricing and service and doing all we can to help them deliver the excellent outcomes their customers deserve.“  

The lender recently reduced second charge product fees for loans under £25,000 to £395.