United Trust Bank Bridging has rate reductions across its range of regulated and unregulated first and second charge bridging products.
The lender has cut the monthly interest rate payable on its Standard and Light Refurbishment regulated bridging loans to 0.60% per month for loans under 50% LTV, whilst larger loans of £1.5m to £5m have rates from 0.58% per month.
Larger unregulated bridging loans under 50% LTV are now available from 0.60% per month, 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.
First charge bridging rates (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 |
Sundeep Patel (pictured), bridging director at United Trust Bank, said: “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.”
