This new functionality, combined with existing features of the digital journey including remote ID verification and secure document upload via the UTB app, accelerates and simplifies the BTL application process and brought it in line with the journey brokers' experience with the Bank’s other mortgage products.
Switching on the online DIP process for BTL products has enabled the specialist lender to increase capacity for new BTL applications and reduce its SLA for new applications and post to 24 hours.
On the back of this, UTB Mortgages for Intermediaries has announced that it has followed up by launching a new ‘limited edition’ BTL 5-year fixed rate mortgage at 6.19% with a 4% product fee.
Mike Walters, (pictured) Sales Director – Mortgages, United Trust Bank commented: “The BTL market is adapting to the sharp increase in the Base Rate and we are supporting our broker partners and landlord borrowers with new competitive products and quick turnarounds to help mitigate interest coverage ratio (ICR) challenges.
“Brokers have been very positive about our BTL offering which caters for individual, portfolio, limited company SPV and first-time landlords with specialist requirements such as unusual property types including flats that are high rise and over commercial premises, HMOs, multi-unit freehold properties and holiday lets.
"Our recent broker portal enhancements have enabled us to welcome many new landlord customers to UTB and we are sure this attractive fix will encourage even more.”
