Bank offers port in a storm for BTL borrowers

United Trust Bank has said it ‘ready and able’ to help borrowers, including buy-to-let landlords, refinance after being told by their existing lenders to repay their facilities or agree to harsh new terms.

United Trust Bank said it can provide short-term facilities to refinance suitable residential property portfolios.
 
After reports that customers of Clydesdale Bank in particular are coming under pressure, Harley Kagan, managing director of United Trust Bank, said: “In the last few months United Trust Bank has helped many customers of large banks to refinance their borrowings after they found themselves under pressure to repay their loans or agree to unattractive new terms.”
 
In several cases, he said, the customers were experienced property people whose existing facilities with high street lenders required repayment, as part of the drive of some lenders to reduce their balance sheets – despite the underlying quality of the customers and the security.
 
He said: “These customers required a flexible bank which could understand their varied property portfolios.

“As an experienced lender, used to dealing with complex structures, UTB is able to dedicate the time and resources and bring the necessary skills to the table to complete what are essentially structured bridge loans.

“We are ready and able to consider refinancing suitable portfolios.”