United Trust Bank (UTB) has lowered pricing across its regulated and unregulated first and second charge bridging rates.
Regulated bridging rates start from 0.58% per month, down from 0.63% per month.
Within its regulated bridging range, the monthly interest rate payable on its standard and light refurbishment regulated bridging loans begins at 0.6% per month for loans under 50% loan to value (LTV).
Larger loans of £1.5m-5m have rates from just 0.58% per month.
Looking at its unregulated bridging rates, larger unregulated bridging loans under 50% LTV begin from 0.6% per month, a decrease 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.
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Sundeep Patel (pictured), bridging director for UTB, 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.”
UTB recently hired Gemma Roberts as a business development manager (BDM) in its bridging sales team for the North of England.
