UTB cuts regulated and unregulated bridging rates

United Trust Bank has announced interest rate reductions across its range of unregulated and regulated bridging finance products.

Regulated bridging interest rates are now available from 0.64% pm and unregulated bridging rates from 0.72% pm.

The new interest rates start from 0.64% for larger regulated loans of £1.5m to £5m and 0.65% for regulated loans of £200,000+.

In the Bank’s unregulated range, rates start at 0.72%for larger loans of £1.5m to £5m and 0.75% for light refurbishment loans of £100,000+.

The lowest rates apply to loans of less than 50% LTV and UTB will consider bridging loans above £5m on a referral basis.

Sundeep Patel, director of bridging at United Trust Bank, said: “We are delighted to continue to support the growing market with competitive products for small and large loans. The market feels more stable and positive with consumer confidence returning.

“Our products still benefit from our Fast track process for applicable cases and brokers can also benefit from our online portal when making case submissions and creating DIPs.”