Who is United Trust Bank?
United Trust Bank has been in operation since the 1950s. It is authorised by the Financial Conduct Authority and offers various loan products to individuals and businesses directly, and through brokers.
United Trust Bank Secured Loans
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Who is United Trust Bank?
Can I take out a secured loan with United Trust Bank?
Can I use a United Trust Bank secured loan for debt consolidation?
What risks are involved in taking out a secured loan?
Where does NerdWallet get its information from about United Trust Bank secured loans?
What should I do if I think I might miss a repayment on my United Trust Bank secured loan?
What are the lending criteria for a United Trust Banks secured loan?
Can I take out a secured loan with United Trust Bank?
Yes, United Trust Bank secured loans are available to borrowers who meet the lending criteria. It offers secured loans for a range of purposes, such as covering wedding expenses, paying a large bill – such as a tax bill – or financing a major domestic renovation project.
Can I use a United Trust Bank secured loan for debt consolidation?
Yes, it is possible to borrow against your property in order to repay other loans. This is known as debt consolidation and sometimes helps people to simplify their debt into a manageable monthly repayment. However, this approach also often extends the overall term of a loan and increases the total amount repayable as a result.
What risks are involved in taking out a secured loan?
Taking out a secured loan, as opposed to an unsecured loan, is far more risky. This is due to the fact that the lender can repossess your home if you fail to repay the debt. In addition, if you find that you miss even one repayment, you may be charged a late payment fee and this can worsen your financial situation. Therefore, it’s sensible to consider whether a secured loan is right for you before making such as significant financial commitment.
Where does NerdWallet get its information from about United Trust Bank secured loans?
We work in conjunction with secured lending broker, Fluent, when putting together our secure loan comparison tables. Working with brokers is often preferred among people seeking secured loans and many lenders will only lend through intermediaries. However, if you want to avoid broker fees, you can still find lenders who will deal with borrowers directly.
What should I do if I think I might miss a repayment on my United Trust Bank secured loan?
If you find yourself struggling financially after taking out a secure loan, it’s important to contact your lender as soon as possible and to be honest about the fact that you may have difficulties meeting repayments. The lender will often try to rework your repayment structure to help you keep up with your repayment schedule. If you do miss a repayment, late payment charges will often be applied.
What are the lending criteria for a United Trust Banks secured loan?
When you apply for a United Trust Bank secured loan, you will be asked to provide evidence and information about your financial and employment situation. Your credit record will be checked, and you are likely to have your home valued by the lender. Whether you are approved for a loan, and how much you are offered, will depend on the outcome of these checks. The interest rate that is applied to your loan will also be reliant on factors like the value of your house, your existing mortgage value and your credit score.
About the author
Rhiannon is a financial writer for NerdWallet, with a particular interest in personal finance and insurance guides for consumers. Read more
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This secured loans comparison and quote service is presented via our partnership with Norton Finance. Data provided is submitted directly to Norton Finance. Nerdwallet Ltd does not form part of the service beyond this introduction.
Norton Finance. Registered at Norton House, Mansfield Road, Rotherham, South Yorkshire, S60 2DR. Registered in England & Wales No 5995692. Authorised and regulated by the Financial Conduct Authority no. 589554.