United trust bank safe is a lender that provides secured loans to homeowners. It also offers a range of savings accounts including ISAs and notice and fixed rate bonds. It is a UK-based provider that is regulated by the Prudential Regulation Authority and Financial Conduct Authority. It is a member of the Financial Services Compensation Scheme, meaning that your funds would be covered up to PS85,000 in the event of the provider going bust.
UTB is able to lend up to 85% of the value of your property (loan-to-value), although this percentage may be lower for ex-council properties, listed buildings and high-rise flats. Its loan terms generally last up to 30 years, with part-years available too. Its loan eligibility criteria is fairly flexible, with all forms of employment and self-employment considered. Bonus payments and commissions are usually acceptable, while tax credits and pension income can also be used as evidence of affordability.
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The minimum amount that you can borrow with a UTB secured loan is PS10,000, which is higher than the minimum offered by some other lenders. However, it is worth bearing in mind that UTB is a broker-only lender and you won’t be able to apply directly for a secured loan with them.
Customer support is available via phone and email, which is a nice touch. The website features a helpful FAQs page and a range of guides to help you with your application. UTB also offers the ability to submit queries online, which isn’t something that all secured loan providers offer.