United Trust Bank secured loans review

United Trust Bank is a long-established specialist lender offering United Trust Bank secured loans (second charge mortgages) from £10,000 to £1,000,000, with terms from 3 to 30 years. It's known among brokers for its flexible approach to credit history and its willingness to consider applications that mainstream lenders decline.

In this review, we'll cover United Trust Bank's products, rates and fees, eligibility criteria, application process, and how it compares to other specialist lenders, so you can decide whether it's right for your circumstances.

Our rating: 4.2 out of 5

Best for

• Homeowners needing larger loans, including amounts over £100,000
• Those with a complex income or a history of credit issues
• Borrowers who want to keep their existing mortgage rate
• Anyone who values flexible repayment options, including unlimited overpayments

Not ideal for

• Anyone needing less than £10,000
• Homeowners wanting to apply directly without a broker
• Newly self-employed applicants with under 2 years' accounts

Before looking at United Trust Bank's specific products, it's worth understanding what a secured loan actually is and whether it's the right borrowing option for your situation.

A secured loan, also called a homeowner loan or second charge mortgage, lets you borrow money using your property as security. Unlike an unsecured personal loan, where the lender has no claim on your assets, a secured loan gives the lender a legal charge over your home. This means that if you can't keep up with repayments, the lender could ultimately repossess your property to recover the debt.

The second charge element means a United Trust Bank loan sits behind your existing mortgage. Your first mortgage lender gets paid first if your home is ever sold, then the second charge lender. This doesn't affect your current mortgage - you keep your existing deal and payments unchanged.

Why choose a secured loan over other borrowing options?

Secured loans typically offer several benefits over unsecured alternatives:

• Higher borrowing limits: unsecured personal loans typically max out around £25,000-£50,000, while secured loans can stretch into the hundreds of thousands. United Trust Bank offers up to £1 million.
• Potentially lower rates: because the lender has security over your property, it's taking less risk, which can mean more competitive pricing than unsecured borrowing. Speak to an advisor for current comparisons.
• Longer repayment terms: unsecured loans rarely extend beyond 7 years. United Trust Bank offers terms up to 30 years, which can significantly reduce monthly payments, though you'll pay more interest overall.
• More flexible eligibility: specialist lenders like United Trust Bank often consider applications that banks would decline, including adverse credit history or complex income.

That said, secured loans come with serious risks. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. You need to be confident you can maintain payments for the entire term, even if your circumstances change.

United Trust Bank was incorporated in England in 1955, originally providing development finance to small housebuilders tackling the post-war housing shortage. The bank changed significantly after a management buy-out in 2004, led by Graham Davin and Harley Kagan.

Since 2004, United Trust Bank has grown from a small specialist lender with a £10 million loan book into an institution with a loan book exceeding £3.5 billion as of December 2024. It launched its secured loan products in January 2016 and has since won industry awards for its lending, including Best Secured Loan Lender at the 2019 Mortgage Strategy Awards.

United Trust Bank doesn't deal directly with customers for secured loans - all applications must go through a broker or intermediary. This isn't unusual for specialist lenders, and it works in your favour, since an advisor can compare United Trust Bank's terms against other lenders to find the most suitable option for your circumstances.

United Trust Bank assesses a wide range of credit profiles, from clean-credit Super Prime borrowers through to Specialist applicants with previous CCJs or defaults, reviewing each case individually rather than relying on automated scoring.

United Trust Bank offers several secured loan products to suit different circumstances.

Second charge loans

This is United Trust Bank's core secured loan offering - a loan secured against your home that sits behind your existing mortgage. Products are split into four credit tiers:

• Super Prime: up to 90% loan-to-value, loans of £10,000 to £1,000,000, for borrowers with no defaults or CCJs in the past 48 months.
• Prime: up to 80% loan-to-value, loans of £10,000 to £1,000,000, for borrowers with minor credit issues.
• Near Prime: up to 80% loan-to-value, loans of £10,000 to £500,000, for borrowers with up to 2 defaults in the past 24 months.
• Specialist: up to 80% loan-to-value, loans of £10,000 to £500,000, for borrowers with up to 2 CCJs and 2 defaults in the past 24 months.

All tiers offer terms of 3 to 30 years, with a choice of 2-year, 3-year, or 5-year fixed rates, or a Bank of England base rate tracker.

First charge mortgages

While this review focuses on secured loans (second charges), United Trust Bank also offers first charge mortgages for purchase and remortgage, including loans up to £500,000, 2, 3, and 5-year fixed rate options, no minimum credit score, and near prime options.

Mini mortgages

United Trust Bank's mini mortgage product is designed for smaller borrowing needs, with loan sizes from £5,000 to £100,000, a maximum 75% loan-to-value, terms from 3 to 30 years, and no early repayment charges. It's suited to smaller equity release needs, without a full remortgage.

Understanding the full cost of a United Trust Bank secured loan means looking beyond the headline rate.

How rates are set

United Trust Bank's secured loan rates depend on your credit profile, loan-to-value ratio, and chosen product. Rates are grouped into the same four tiers used for eligibility - Super Prime, Prime, Near Prime, and Specialist - with the most competitive pricing reserved for borrowers with a clean, recent credit history and a lower loan-to-value ratio.

United Trust Bank offers 2-year, 3-year, and 5-year fixed rates, as well as a tracker product linked to the Bank of England base rate. With a tracker, your payments move up or down in line with base rate changes, so it's worth budgeting for the possibility of an increase. Because rates change frequently and depend on individual circumstances, speak to an advisor for current figures and a personalised illustration before you decide.

Valuation costs

United Trust Bank uses different valuation methods depending on your loan-to-value:

• Automated valuation: available up to 70% loan-to-value, often at no charge
• Drive-by valuation: available up to 70% loan-to-value, typically £100-£200
• Full valuation: required for 70-90% loan-to-value, typically £200-£500 depending on property value

Example setup costs

Here's how upfront costs might stack up for a typical £50,000 secured loan. The ongoing interest cost depends on the rate and term you're offered, so ask your advisor for a full illustration based on your circumstances.

This illustrates why comparing the total cost of borrowing, not just the headline rate, matters. A shorter term usually means higher monthly payments but less interest paid overall, while a longer term lowers the monthly payment but increases the total interest charged over the life of the loan.

United Trust Bank is known for flexible eligibility, but you'll still need to meet certain requirements.

Credit requirements

This is where United Trust Bank stands out compared to mainstream lenders:

• Super Prime (best terms): no defaults or CCJs in the past 48 months, no mortgage arrears, and a clean recent credit history
• Prime: minor credit issues considered, up to 1 mortgage arrear in the past 12 months (not in the last 3 months), and some older defaults acceptable
• Specialist: up to 2 CCJs (satisfied or unsatisfied), up to 2 defaults within 24 months, up to 2 mortgage arrears in 12 months, and current unsecured arrears limited to 1 account

Income assessment

United Trust Bank takes a flexible approach to income. For employed applicants, base salary is fully counted, up to 50% of regular bonus and commission can be included, and overtime is typically excluded unless guaranteed. Self-employed applicants need 2 years' accounts, though 1 year may be acceptable if turnover exceeds £100,000, and directors with dividend income need SA302s and tax year overviews. Pension income is accepted, benefits are considered case-by-case, and rental income may be included.

Property requirements

United Trust Bank accepts various property types, including some that mainstream lenders won't consider. Typically accepted property types include standard construction, non-standard construction (assessed case-by-case), flats and apartments including high-rise, ex-local authority properties, properties near commercial premises, and rural properties. The loan must be secured on your main residence, so buy-to-let properties, properties requiring significant structural work, and properties with certain legal issues aren't typically accepted.

To put United Trust Bank in context, here's how it stacks up against other specialist secured loan lenders.

When to choose United Trust Bank

United Trust Bank is often the better choice if you:

• Need a higher loan-to-value, up to 90% via Premier Club brokers
• Want the longest available term, up to 30 years
• Need a larger loan amount, up to £1 million
• Have moderate credit issues that mainstream lenders won't accept

When to consider alternatives

You might find better options elsewhere if you:

• Want a potentially faster process for a straightforward case - Shawbrook may suit
• Have more serious, recent credit problems - Pepper Money specialises in this area
• Have an unusual property or income that needs creative underwriting - Together is known for this
• Need under £10,000 - all four of these lenders share the same £10,000 minimum, so a smaller unsecured loan may suit better

An advisor can compare terms across multiple lenders, including United Trust Bank, to find the most suitable match for your circumstances. Since all of these lenders work through intermediaries anyway, using a broker doesn't add an extra step - it's the only way to apply.

Advantages

High borrowing limits. Loans up to £1 million put United Trust Bank among the highest-lending secured loan providers, suited to major home improvements, large debt consolidation, or significant purchases.

Flexible credit criteria. No minimum credit score, and adverse credit histories are considered individually rather than automatically declined.

Long repayment terms. Terms of up to 30 years allow for lower monthly payments, though you'll pay more interest overall.

Unlimited overpayments. You can pay extra without penalty on most products, reducing interest costs if your circumstances improve. The minimum overpayment is £100.

Established, regulated lender. With a history dating back to 1955 and regulation from the Prudential Regulation Authority and the Financial Conduct Authority, United Trust Bank is a stable, credible choice.

Award-winning service. Best Secured Loan Lender awards reflect industry recognition of its products and service quality.

Accepts non-standard properties. More flexibility on property type than many competitors, including non-standard construction and high-rise flats.

No arrangement fee on smaller loans. Loans under £40,000 carry no lender arrangement fee, reducing upfront costs.

Disadvantages

Broker-only applications. You can't apply direct, which adds a broker fee and means you need to go through an intermediary.

Higher minimum loan. At £10,000, the minimum loan is higher than some competitors offering from £3,000-£5,000, so it's not suitable for smaller borrowing needs.

90% loan-to-value has limited availability. The highest loan-to-value products are only available through United Trust Bank's Premier Club brokers. Standard access is capped at 80%.

Self-employed requirements. You'll need 2 years' accounts, which excludes newer businesses. Some competitors accept 1 year.

No online calculator. Unlike some competitors, United Trust Bank doesn't offer a way to estimate rates online before speaking to a broker.

Email and phone support only. There's no live chat option, which some customers prefer for quick queries.

United Trust Bank has strong overall reviews, though it's worth noting most reviews relate to its savings accounts rather than secured loans specifically.

Trustpilot overview

United Trust Bank has an Excellent rating of 4.7 out of 5 on Trustpilot from nearly 4,000 reviews. Common themes include:

Positive feedback:

• Helpful, patient staff who resolve issues quickly
• Active responses to reviews, showing engagement with customer feedback
• Clear communication throughout the process
• Knowledgeable staff who can explain complex products clearly

Negative feedback:

• Some delays in email response times, though phone support is generally praised
• A small number of reports of technical problems with online banking or application systems
• No live chat option for quick queries

What secured loan borrowers say

Reviews specifically about United Trust Bank's secured loan products mention straightforward account setup and professional handling of complex situations.

Our assessment

United Trust Bank's reviews are strongly positive, with the large majority awarding 4 or 5 stars. The bank clearly invests in customer service and responds promptly to negative feedback. For secured loan customers specifically, your experience will partly depend on the broker you're matched with, since United Trust Bank doesn't deal with borrowers directly.

Ideal candidates

Homeowners needing larger loans: if you need to borrow £100,000 or more for major renovations, significant debt consolidation, or another large expense, United Trust Bank's high limits make it worth considering.

Those with past credit issues: if you have satisfied CCJs, older defaults, or other credit blemishes, United Trust Bank's underwriting may find a solution where high street banks can't help.

Borrowers wanting to keep their mortgage rate: if you have a competitive first mortgage and don't want to remortgage, a second charge loan lets you access funds without disturbing your existing deal.

Self-employed applicants with 2+ years' accounts: United Trust Bank's flexible income assessment can work well for established self-employed applicants with variable income.

Older borrowers: with lending up to age 85 at the end of the term, United Trust Bank accommodates later-life borrowing better than many competitors.

Poor fit profiles

Small loan requirements: if you need under £10,000, you'll need to look elsewhere, as unsecured personal loans may be more appropriate for smaller amounts.

Those wanting to apply directly: if you'd rather deal directly with a lender than go through a broker, United Trust Bank's model won't suit you.

New businesses: self-employed applicants with less than 2 years' trading history are likely to be declined.

Those needing very high loan-to-value: while 90% is available through Premier Club brokers, standard access is capped at 80%. Other lenders may offer higher loan-to-value more readily.

Time-sensitive borrowing: if you need funds within days, a secured loan generally isn't the fastest option, regardless of lender.

Any secured loan carries risks worth understanding fully before you proceed.

Repossession risk

Your home is at risk if you don't keep up repayments, as covered earlier in this guide. This isn't small print - it's the fundamental trade-off of secured lending. If you fall behind, United Trust Bank will first try to agree an alternative payment plan with you. If no arrangement is possible, it may begin repossession proceedings, and your home could ultimately be sold to recover the debt.

Before borrowing, it's worth honestly assessing whether repayments would still be manageable through job loss, illness, rate increases, or unexpected expenses.

Early repayment charges

Some fixed-rate products carry early repayment charges, typically a percentage of the outstanding balance that reduces over time. These can outweigh any interest savings if you want to exit the loan early. United Trust Bank allows unlimited overpayments on most products, with early repayment charges only applying if you repay the loan in full ahead of schedule, so check the specific terms of your product before committing.

Variable rate exposure

If you choose a tracker product, your payments will move up or down whenever the Bank of England base rate changes. It's worth budgeting for the possibility of an increase, not just planning around your initial payment.

Long-term commitment

Secured loans can run for up to 30 years. Over that time, your circumstances may change, you'll pay more interest in total than on a shorter term, and the loan becomes a debt against your property that must be settled if you sell. Generally, a shorter term costs less overall, even though the monthly payments are higher.

Credit score impact

An initial eligibility check uses a soft search that doesn't affect your credit score. If you go ahead with a full application, a hard credit search will appear on your credit file. Applying to several lenders in a short space of time can temporarily lower your score.

If you're struggling with existing debts or worried about affordability, free and independent guidance is available from MoneyHelper at moneyhelper.org.uk or by calling 0800 138 7777.

United Trust Bank is a credible, established lender offering genuinely flexible secured loans for homeowners who don't fit mainstream criteria. Its combination of high maximum loans, competitive pricing for prime borrowers, and willingness to consider adverse credit makes it a strong option in the specialist lending market.

Its underwriting approach means applications are assessed individually rather than automatically rejected by algorithms. For borrowers with complex circumstances, whether that's self-employment, previous credit issues, or an unusual property, this individual assessment can make the difference between approval and rejection.

The broker-only model does add cost and complexity. While a broker provides valuable guidance, some customers would prefer direct access, and the £10,000 minimum loan rules it out for those needing smaller amounts. The highest loan-to-value products being restricted to Premier Club brokers also means standard applicants max out at 80%.

United Trust Bank is worth considering if:

• You need a larger secured loan, typically £50,000 or more
• You have a complex income or moderate credit issues
• You want to keep your existing mortgage rate in place
• You have 2 or more years of self-employment history

It's worth looking elsewhere if:

• You need under £10,000
• You want to apply directly without a broker
• You need funds urgently
• You have very serious, recent credit problems

Overall, we rate United Trust Bank 4.2 out of 5 for secured loans, a strong option for homeowners with complex circumstances needing larger amounts, though not necessarily the best fit for every borrower.