UTB cuts bridging rates and simplifies near prime pricing

United Trust Bank Bridging has reduced pricing across several products in every LTV band up to 75% in its regulated and non-regulated bridging loan ranges by up to 0.16% pm.

Following the latest reductions, regulated core, re-bridging and light refurbishment rates start from 0.57% pm.

Regulated second charge rates are available from 0.69% pm, with non-regulated core, re-bridging and light and medium refurb rates from 0.60%.

Non-regulated second charge rates start from 0.75% pm and heavy refurb rates from 0.66%.

In addition, the bank has simplified its near prime product pricing. UTB has priced its near prime core, re-bridging and light and medium ranges at just 0.20% pm above its standard pricing for both regulated and non-regulated bridging.

The move is designed to simplify pricing and give brokers a greater choice for placing a wider range of cases.

Gene Clohessy, director of buy-to-let and bridging at United Trust Bank, commented: “By making these latest significant rate reductions and simplifying our pricing we're giving brokers greater choice and opportunity to secure competitive pricing for their customers whatever their requirements.

“Brokers also want lenders who understand the complexities of bridging, make sensible decisions and deliver when it matters. That's why we keep refining our proposition, responding to feedback and finding practical ways to make placing business with UTB quicker, easier and even more competitive.”