UTB (United Trust Bank)

UTB (United Trust Bank) is a UK-based specialist lender. The lending criteria for their loan products, is as follows:

1. Loan Purpose: UTB provides loans for a range of purposes, including property development, bridging finance, asset finance, professional loans, and structured finance.

2. Borrower Requirements: UTB considers borrowers with a range of backgrounds and circumstances, including individuals, limited companies, partnerships, and trusts. Borrowers must be over 18 years of age and have a UK bank account.

3. Loan Amount: The minimum loan amount is typically £50,000, and there is no maximum loan amount.

4. Loan Term: The loan term is typically between 1 and 36 months, although longer terms may be considered on a case-by-case basis.

5. Loan-to-Value (LTV) Ratio: UTB may lend up to 75% of the property’s open market value (OMV) for first charge loans, and up to 70% of the OMV for second charge loans.

6. Repayment Strategy: Borrowers are required to have a clear and viable exit strategy for repaying the loan, such as selling the property, refinancing with a mainstream lender, or using other sources of funds.

7. Credit History: UTB will assess the borrower’s credit history, although adverse credit may be considered on a case-by-case basis.

8. Fees and Charges: Borrowers will be responsible for paying various fees and charges, such as arrangement fees, valuation fees, legal fees, and exit fees. These will vary depending on the loan product and borrower circumstances.