United Trust Bank enhances bridging offering

As part of the changes, the lender is increasing the use of automated valuations (AVMs) for loans below 55% LTV up to £1m and increasing the availability of dual legal representation for regulated loans of up to £1m.

It is also introducing a new 75% LTV price band for first charges at a rate of 0.75% per month.

Gavin Diamond, commercial director of bridging, commented: “These are significant enhancements to our bridging products and service offering which we hope will keep UTB very much at the top of brokers’ consideration lists when placing regulated and unregulated bridging loans. Our BDMs are talking to brokers up and down the country, finding out what would enable them to build their businesses and meet borrowers’ needs. Such feedback is invaluable in helping us to continually improve and refine what we do as we ensure our specialist short term loans continue to meet the changing needs of brokers and borrowers.

“The first half of 2019 has been very busy at UTB with considerable demand for short term property finance. With these enhancements to our bridging offering, we look forward to speaking to even more brokers and serving more borrowers in the future.”