UTB’s new rate of 0.95% per month is for borrowers where the loan-to-value is less than 50%. The mid LTV band of up to 60% is now serviced by the rate of 1.14% per month. Rates have also been lowered for higher loan to values.
The new rates are simple, transparent and available for the vast majority of first charge loans up to £5m. UTB said that it recognises there are quality borrowers with sound propositions and properties located throughout England and Wales and not just within the M25.
United Trust Bank’s head of bridging, Alan Margolis, explained: “We have been successful over the last 12 months in growing a quality loan book. The bank’s new premium products reflect its increased appetite to grow its bridging business. The bank continues to receive praise from its brokers for its quick response times and excellent personal and professional service.”
