United Trust Bank is a specialist lender offering business finance and savings products. There’s no current account available. The organisation was founded in 1955, and offers property, asset, bridging, and tailor-made finance. There are no branches to visit in the UK, but you can apply and manage your account online.
United Trust Bank Business Banking Services
Current Accounts
Not available.
Savings account
Businesses can open a fixed-term bond which you can apply online or by post for the fixed term account. Save for 1. 2 or 3 years and earn 1.00-1.25% Gross/AER. Interest is paid annually, and the minimum deposit is £5,000.00 per account. You can deposit up to £1 million.
Overdrafts
Not available.
Business finance and loans
Various finance products are available to businesses, including asset, bridging, property development, mortgages and structured finance. Depending on the product you choose, your business could raise £10,000 to £15 million+ and would repay it over a few years. Current interest rates aren’t published on the website.
See United Trust Bank business loans and finance page for more.
United Trust Bank Reviews and Ratings
There are a small number of reviews on Trustpilot and Smart Money People which are very mixed. Positive reviews comment on positive experience during Covid, fast and efficient customer service, and good rates. Negative reviews include slow processing paperwork and poor customer service.
There are no reviews for United Trust Bank on Reviews.co.uk and they aren’t included in the Which? list of ‘Best & Worst Banks’.
United Trust Bank won a range of awards in 2019, including Development Lender of the Year at the Specialist Finance Introducer Awards, Best Secured Loan Provider at the Moneyfacts Awards, and Specialist Bank of the Year & Editor’s Choice Award 2019 at the Bridging and Commercial Awards.
United Trust Bank reported a 27% rise in profits in 2017. The lender also announced it “signed an agreement with the British Business Bank” so they can lend to more house builders in the future.
In September 2019, United Trust Bank launched a facial recognition service to make personal mortgage applications faster. This speeds up getting certified ID, which used to involve dealing with a solicitor. This is currently only available to personal mortgage customers.
Trustpilot – 3.3/5 (based on 10 reviews)
Reviews.co.uk – no reviews
Smart Money People – 3.5/5 (based on 4 reviews)
Which? – not included
Pros
- Competitive interest rates.
- Offers a range of finance products for different functions.
Cons
- Only a small number of mixed reviews, so difficult to say how good the customer service is.
- Repayment interest rates are not available on the site.
Website: United Bank Trust Business Banking