UTB enhances bridging offering to increase speed

United Trust Bank (UTB) has enhanced its bridging offering with the introduction of a range of changes.

The specialist bank has increased the use of AVMs for loans up to £1m that are below 55% LTV.

It has increased the availability of dual legal representation for regulated loans of up to £1m.

UTB has also added a new 75% LTV price band for first charges at a rate of 0.75% per month.

Gavin Diamond, commercial director of bridging (pictured above), said: “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 changes have been rolled out to the wider market following a pilot phase.

Gavin added: “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.”

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