UTB ups maximum LTV on bridging loans
United Trust Bank has increased its maximum loan-to-value (LTV) on bridging loans to 70%.
This extension is available across the lender’s entire range of regulated and non-regulated bridging loans, and includes property improvement loans for heavy refurbishment and conversion projects.
Key features of the bank’s overall bridging offering include first charge bridging rates from 0.48%, loan sizes up to £15m, automated valuation models (AVMs), and dual legal representation .
Mike Walters, sales director of property intermediaries at United Trust Bank, said: “We remained open for business throughout the pandemic, introducing many product, criteria and digital enhancements to help property finance intermediaries write more business.
“We believe that the time is right to increase our maximum LTV appetite to support the market even further and you can expect to see more positive changes from UTB over the next few months as we respond to the changing environment and increasing confidence.”