United Trust Bank (UTB) Bridging has announced that it has cut bridging finance rates across its regulated and unregulated ranges while expanding its product LTV bandings.
The new pricing takes effect from 14 July and includes rate reductions across the board, with regulated bridging rates now starting from 0.57% per month and unregulated bridging from 0.63% per month.
The largest reduction applies to unregulated loans of £500k or above at a maximum of 65% LTV, where rates have fallen by 8 basis points, from 0.79% per month to 0.71% per month.
Below £500k, regulated Standard and Light Refurbishment rates start from 0.58% per month, while unregulated rates in the same band start from 0.64% per month.
- Regulated, Standard and Light Refurbishment, up to £500k: rates from 0.58% per month
- Regulated, Standard and Light Refurbishment, above £500k: rates from 0.57% per month
- Unregulated, Standard and Light Refurbishment, up to £500k: rates from 0.64% per month
- Unregulated, Standard and Light Refurbishment, above £500k: rates from 0.63% per month
The changes apply across UTB's Standard and Light Refurbishment products, and rates have also been reduced across its Second Charge Bridging range. Brokers with applications already sitting in the pre-offer pipeline will automatically benefit from the new lower rates, without needing to reapply.
"In today's market, brokers need lenders who combine competitive pricing with the flexibility to support a wide variety of client circumstances," said Andrew Ferguson, commercial director, mortgages, buy-to-let and bridging at United Trust Bank (pictured).
"These latest enhancements do exactly that. Lower rates are always welcome, but we've also expanded our product bandings to give brokers more options when structuring bridging loans for their customers. It's about making sure they have access to pricing that better reflects the individual circumstances of each case.
"Price gets the conversation started, but flexibility and certainty are what help brokers get deals over the line. We're continually investing in our bridging proposition, listening to broker feedback and looking for ways to improve the experience for both brokers and their customers."
