United Trust Bank (UTB) has increased the maximum LTV available on 1st Charge Bridging loans to 75% and the maximum LTV available on 2nd Charge Bridging loans to 70%. Both apply to regulated and non-regulated lending.
UTB has also reduced rates across its entire 2nd charge range. Rates now start from 0.69% per month, with the biggest reduction of 11bps at 60% LTV at 0.74% per month.
The Bank will also consider providing a ‘rebridge’ for both regulated and non-regulated loans on a case-by-case basis where there is a suitable rationale for doing so.
Key features of UTB’s overall bridging offering include:
- Max 75% LTV (1st Charge)
- Max 70% LTV (2nd Charge)
- Regulated and non-regulated lending
- 1st Charge Bridging rates from 0.48% pm
- 2nd Charge Bridging rates from 0.69% pm
- Loan size from £125k to £15m
- New Fast Track Bridging process for qualifying loans
- AVMs & Dual Legal Representation available
Further details of United Trust Bank’s bridging loan products can be found HERE
Mike Walters, Sales Director – Property Intermediaries, United Trust Bank, commented: “We are sure that these changes will enable brokers to write more business with UTB, especially following the exceptionally successful launch of our Fast-Track Bridging process which has seen our application to offer time reduce significantly with numerous applications receiving an offer in under 48 hours.”
This information is intended for intermediary use only.