United Trust Bank has expanded its bridging proposition with new standard and near prime ranges and the return of heavy refurbishment finance.
The lender’s bridging rates start from 0.57% a month, with the new products available immediately across a wider range of borrower circumstances, property types and transaction complexities.
The near prime range is available for regulated and non-regulated bridging finance. It is intended for borrowers with historic credit problems that may fall outside standard bridging criteria.
UTB has also reintroduced heavy refurbishment finance for non-regulated cases. Its wider range covers core bridging, second charge and re-bridge products, alongside light, medium and heavy refurbishment finance.
The expansion follows the launch of UTB’s bridging portal and the appointment of Gene Clohessy as director of buy-to-let and bridging. His expanded role brings the lender’s sales and underwriting teams under one director.
Gene Clohessy (pictured), director of buy-to-let and bridging at United Trust Bank, says: “There’s a real sense of momentum around UTB Bridging at the moment. We are delighted with the response to our new Bridging Portal and now we’re quickly following that with a significantly broader proposition, giving brokers more options and more reasons to bring bridging cases to UTB.
“The introduction of Near Prime is particularly exciting because it enables us to support good customers whose circumstances may not quite fit standard criteria, while the return of Heavy Refurbishment strengthens our ability to support more ambitious property projects.
“Combined with competitive pricing and a much broader range of regulated and non-regulated options, this represents a significant step forward for our proposition.
“Technology is helping us remove friction and accelerate the straightforward parts of the journey, while our experienced people remain available to apply judgement, talk through cases and find solutions when things are more complex.
“That combination is exactly where brokers want UTB Bridging to be, and there’s plenty more exciting changes to come.”
