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
Businesses can open a fixed term bond or a notice account, depending on how often they want to save for. You can apply online or by post for the fixed term account, but the notice account is an online exclusive.
Fixed Term Bonds
Save for 1 or 2 years and earn 1.75-1.80% Gross/AER. Interest is paid annually, and the minimum deposit is £5,000.00 per account. You can deposit up to £1 million.
Access your account with 100 or 200 days notice. You can earn 1.50-1.55% Gross/AER. The minimum deposit is £5,000.00 per account, and the maximum deposit is up to £1 million.
Business finance and loans
Various finance products are available to businesses, including asset, bridging, property development, 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.
United Trust Bank Reviews and Ratings
There are no public reviews on Trustpilot, Reviews.co.uk, or Smart Money People. United Trust Bank isn’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.
- Competitive interest rates.
- Choice of fixed and notice accounts.
- Range of finance products for different functions.
- No public reviews, so difficult to say how good the customer service is.
- Repayment interest rates not available on the site.
Website: United Bank Trust Business Banking