We are bridging specialists and offer brokers and their customers certainty, quality, tailoring and strength.
Certainty. We are a fully regulated bank. In a sector of often unfamiliar names, you can be sure that we will always have the funds to complete your cases. We can also act quickly and have completed loans in as little as three working days.
Quality. We appreciate that for many brokers, bridging loans are not an everyday experience. We provide as much assistance as you need and work in partnership with you to get loans completed. We find that open and honest engagement between lender and broker achieves the best results and helps us to build a profitable, long-term relationship.
Tailoring. Completing bridging loans is not about ticking boxes and following process. Each case is unique and presents different challenges. We work hard to understand your case and task a dedicated case manager with ensuring that your client’s loan completes within the required time frame.
Strength. United Trust Bank has operated successfully for more than 50 years. We have a long-term commitment to the bridging sector and a dedicated team of highly experienced individuals, focused on using our strength to serve you.
We lend against completed residential and mixed-use properties (shops with flats above). “Completed” means that there is no significant work outstanding and any newly built or refurbished property has the appropriate consents and approvals to enable sale.
Please note that where the security is your residential home, your home may be repossessed if you do not keep up repayments on your mortgage.
To enable us to send you a credit approved decision in principle, we need a completed one page quick enquiry form.
The time taken to complete a bridging loan depends on the borrower’s requirements. They can complete within a few days of the first enquiry but this requires all parties to work together and for the valuer to have immediate access to the security property. Our solicitors will assist the borrower’s solicitors as required.
In most cases, the only upfront cost to the borrower is the valuation fee. However, we may charge a commitment fee in extremely complicated cases or where the borrower is seeking the assurance of having an offer of finance.
England, Wales and Scotland.
There is no maximum age. What matters is how the loan is to be repaid. Very often this is from the sale of the security property and when we are bridging the purchase of another property.
We will usually instruct the valuation using a valuer chosen by the Bank.
The exit or repayment method is perhaps the most important aspect of a bridging loan. There must always be a realistic exit but it does not have to be in place when the bridging loan draws down. For example, if the loan is to be repaid by the sale of a property, contracts do not have to be exchanged. It is usually enough that the property is being marketed.
Bridging loans can be used for any lawful purpose. However, we are unable to help with “credit repair” cases.
Yes, we are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Proof of income is required where the borrower intends to service the interest or proposes to repay their bridging loan with a term mortgage which will require proof of income.
The loan can be repaid at any time without penalty or early repayment charges. We usually require a minimum of just the first month’s interest.
We can be flexible in the right circumstances. Please call us to discuss cases that you believe are outside our criteria but which you would like to explore further.
We are able to lend to all of the above, subject to due diligence. Personal guarantees are required for loans made to any of the above entities.
Borrowers must always be represented by their own solicitor.