United Trust Bank has reduced rates across its regulated and unregulated bridging ranges while expanding its loan-to-value bandings to give brokers greater flexibility when placing cases.
The revised pricing, effective from 14 July, includes reductions of up to eight basis points across its bridging products. Regulated bridging rates now start from 0.57% per month, while unregulated bridging rates start from 0.63% per month.
The changes apply to the lender’s Standard and Light Refurbishment products, with rate reductions also introduced across its Second Charge Bridging range. Brokers with applications already in the pre-offer pipeline will automatically benefit from the lower rates.
Under the revised pricing structure, regulated Standard and Light Refurbishment loans are available from 0.58% per month for loans up to £500,000 and from 0.57% per month for loans above £500,000.
For unregulated Standard and Light Refurbishment loans, rates now start from 0.64% per month for loans up to £500,000 and from 0.63% per month for loans above £500,000.
Andrew Ferguson (pictured), commercial director – mortgages, buy-to-let and bridging at United Trust Bank, says: “In today’s market, brokers need lenders who combine competitive pricing with the flexibility to support a wide variety of client circumstances. 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.”
