United Trust Bank announce “significant” interest rate reductions

The specialist lender has reduced the monthly interest rate payable on its standard and light refurbishment regulated bridging loans to 0.60% per month for loans under 50% LTV, whilst larger loans of £1.5mn to £5mn have rates from 0.58% per month.  

Larger unregulated bridging loans under 50% LTV are now available from 0.60% per month, significantly reduced from 0.72%. Unregulated standard and light refurbishment loans are available from 0.62% per month for loans between £100k and £1.5m.

Brokers can find out more details in the updated Product and Criteria Guides 

“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,” said Sundeep Patel, Bridging Director at United Trust Bank. 

“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, United Trust Bank has a compelling offering for brokers and borrowers,” he concluded.