Secure Trust Bank enters UK mortgage market

Secure Trust Bank enters UK mortgage market

Secure Trust Bank has announced that it has entered the mortgage market launching Secure Trust Bank Mortgages

According to the lender, the new mortgages arm will be "100% committed to intermediaries" and has initially agreed an exclusive distribution partnership with Mortgage Advice Bureau. This means that all MAB members now have full access to Secure Trust Bank’s specialist mortgage services and all brokers will deal directly with the Bank’s team of underwriters. It plans to roll out to other intermediaries after the initial launch period.
 
Secure Trust Bank will provide loans of up to £2m per household and will offer two, three and five year fixed rate mortgages with a maximum LTV of 80%. The bank will lend to customers who are often overlooked by the high street lenders including contract workers, the self-employed and those with complex incomes or those who have experienced a credit blip.


Secure Trust Bank Mortgages will be headed by managing director Esther Morley, who joined the Solihull-headquartered bank 12 months ago. Morley has more than 20 years’ experience in the mortgage and banking sector having worked most recently for Kensington Group and previously for Start Mortgages, Investec and HSBC.
 
Secure Trust Bank made its move onto the London Stock Exchange’s Main Market in October 2016, valuing the company at £427.5m.

Esther Morley, managing director at Secure Trust Bank Mortgages, said: “There are millions of people looking to get themselves on the property ladder, move home or find a better deal with a new mortgage provider. Our offering will serve customers who don’t fit the criteria of traditional lenders. We completely understand the finance problems our customers face and will work in partnership with Mortgage Advice Bureau to ensure we are placing more complex cases easily.
 
We will stand out from others in the market by providing an exemplary service with smart operating systems that will be fine-tuned to respond faster and make everybody’s life much easier. The team will be committed to offering bespoke services with a personal touch, and this will move us one step closer to becoming Britain’s best bank.”
 
Morley has been joined by head of sales and marketing Tony Hall who will be responsible for building the broker network for the new business. Hall has an impressive record in the industry spanning over 25 years including his most recent role at West Bromwich Building Society as head of distribution.
 
Paul Lynam, Group Chief Executive at Secure Trust Bank, added: “As one of the most strongly capitalised banks in the UK, Secure Trust Bank is very well positioned to progress our entry into the mortgages market as part of our long term diversification strategy. Enabled by a state-of-the-art operating platform and good old fashioned personal service delivered by skilled humans, not machines, we will strive to support creditworthy customers as they seek to buy new homes or remortgage.”
 
Brian Murphy, Head of Lending at Mortgage Advice Bureau, said: “We are delighted to be partnering with Secure Trust Bank at the outset of their launch in the UK mortgage market. Secure Trust Bank’s primary offering will be targeted at the demographic other high street lenders would term as ‘niche’ and generally choose to shy away from, however this is a highly valuable area of the market which requires pragmatic solutions.  Therefore, the entry of Secure Trust Bank into this sector, along with others, provides much needed competition and choice for consumers, and we’re very much looking forward to working with them.”

Join our mailing list:

Leave a comment



Our Next Event

Specialist Lending Roadshow June 2017

Specialist Lending Roadshow June 2017

Crewe - 20/06/2017

Northampton - 21/06/2017

Chingford - 22/06/2017

Brighton - 23/06/2017

Register now

Latest Comments

Oliver Conway
Oliver Conway 18 May 2017

Making a neat inventory is a good idea, but if the seller is not willing to provide it, can the buyer demand it?

view article
Bertrand
Bertrand 17 May 2017

First step to nationalisation of the private rented sector IMHO. Nanny state poking their noses into things yet again. I object, as a decent landlord, sometimes having to deal with some pretty awful tenants,...

view article
Izzy
Izzy 16 May 2017

This is such a great a post. I love the detail you've gone into. It's a very useful article for helping those who are looking at deciding which sector they would like to go into! When I first started investing...

view article
paul burnham
paul burnham 30 Apr 2017

Jeremy Corbyn's pledge that a Labour government would build 500,000 new council houses must electrify the general election campaign. Reliance on markets and the profit motive has brought huge housing-related...

view article
CommercialTrust
CommercialTrust 28 Apr 2017

Sadiq Khan?s announcement of an online database of landlords and letting agents who have been convicted of housing offences, appears on face value to be a variation of the already implemented Database

view article
warren
warren 26 Apr 2017

You're very welcome Mary! Glad you enjoyed them :)

view article
Mary Ward
Mary Ward 26 Apr 2017

Thank you for the wonderful ideas. First impressions can make or break a deal. It's sadly that many homeowners drop the kerb to create an off-street parking space.

view article
Tony Gimple
Tony Gimple 14 Apr 2017

I'm not at all surprised that so many landlords are still confused about what the tax changes really mean and how it will affect them. In particular, the blind rush to incorporation is leaving landlords...

view article
MH
MH 13 Apr 2017

You are right that the bank holidays are going to be spoiled in looking for the properties. But people who want to sell their property and looking for the better relocation, they can get benefits of this...

view article
bnellyb
bnellyb 08 Apr 2017

There will be an exodus of private landlords over the next 5 years as tax changes take effect, private landlords provide an important service to the rental market, why do housing associations and councils...

view article
Fred Cassman
Fred Cassman 07 Apr 2017

"Make it look like you are at home": often people forget this and share on facebook their location!

view article
jared townsend
jared townsend 05 Apr 2017

It'll be interesting to see how & if the Government's asset sale regarding mortgages helps

view article

Related stories

More articles from Finance

Specialist Lending Roadshow June 2017

20th-23rd June

4 days
7 specialists
4 locations
Free to attend

Click here to register now