United Trust Bank (UTB) Bridging has announced the reduction of pricing across several products in every LTV band up to 75% in its regulated and non-regulated bridging loan ranges by up to 0.16% pm. It has also simplified its near prime product pricing.
The new lower rates are available with immediate effect.
Pricing highlights include regulated core, re-bridging and light refurb rates from 0.57% pm, regulated second charge rates from 0.69% pm, non-regulated core, re-bridging and light & medium refurb rates from 0.60% pm, non-regulated second charge rates from 0.75% pm, and heavy refurb rates from 0.66% pm.
UTB has priced its near prime core, re-bridging and light & medium ranges at 0.20% pm above its standard pricing for both regulated and non-regulated bridging, designed to simplify pricing and give brokers more choice.
"By making these latest significant rate reductions and simplifying our pricing, we're giving brokers greater choice and opportunity to secure competitive pricing for their customers, whatever their requirements," said Gene Clohessy, director - BTL & bridging at United Trust Bank.
"Brokers also want lenders who understand the complexities of bridging, make sensible decisions and deliver when it matters. That's why we keep refining our proposition, responding to feedback and finding practical ways to make placing business with UTB quicker, easier and even more competitive."
