United Trust Bank Bridging has announced significant interest rate reductions across its range of regulated and unregulated first and second charge bridging products.
Regulated Bridging from 0.58% pm – Previously 0.63%!
The specialist lender has reduced the monthly interest rate payable on its Standard and Light Refurbishment regulated bridging loans to just 0.60% per month for loans under 50% LTV, whilst larger loans of £1.5m to £5m have rates from just 0.58% per month.
Unregulated Bridging from 0.60% pm – Previously 0.72%!
Larger unregulated bridging loans under 50% LTV are now available from just 0.60% per month, significantly reduced from 0.72% per month. Unregulated Standard and Light Refurbishment loans are available from 0.62% per month for loans between £100,000 and £1.5m.
Bridging Rate Reduction Highlights – First charge – loans from £100,000 to £1.5m / large loans from £1.5m to £5m
| Max LTV | Standard & Light Refurb – Regulated | Standard & Light Refurb – Unreg. | Large Loans – Regulated | Large Loans – Unreg. |
| <50% | 0.60% pm | 0.62% pm | 0.58% pm | 0.60% pm |
| <60% | 0.65% pm | 0.67% pm | 0.63% pm | 0.65% pm |
| <70% | 0.70% pm | 0.72% pm | 0.68% pm | 0.70% pm |
| <75% Standard Only | 0.75% pm | 0.77% pm | N/A | N/A |
Brokers can find out more details in the updated Product and Criteria Guides HERE
Sundeep Patel, Bridging Director – United Trust Bank, commented: “I’m delighted to announce these significant bridging rate reductions and send a strong message to brokers that we’re looking to write strong levels of new business this year by supporting customers in the market.
“We’ve made the biggest changes to our unregulated bridging pricing where competition has been extremely fierce. When you combine these great rates with our knowledge, flexibility, dedicated underwriting teams for regulated and unregulated cases and fantastic nationwide broker support, UTB has a compelling offering for brokers and borrowers.”