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.
Credits: United Trust Bank