UTB launches 75% LTV lending on commercial and mixed-use property

United Trust Bank (UTB) has announced it can now offer up to 75% LTV on commercial and mixed-use property, supported by the Recovery Loan Scheme (RLS).

The RLS was announced in the Budget to take the place of the BBL and CBIL schemes and is scheduled to run until 31st December, subject to review.

The programme opened to applications on 6th April. 

At UTB, facilities of up to £10m are now available via its structured property finance division for qualifying borrowers on commercial bridging or commercial investment loans.

The loans can be used by businesses adversely impacted by Covid-19 for any purpose, including business investment and working capital. 

The scheme aims to improve the loan terms on offer to businesses able to afford more debt, and can be issued to borrowers who already have CBILS, CLBILS or BBLS facilities in place.

“The UK property market remains buoyant and property developers and investors are continuing to seek funding to take advantage of potential opportunities as we emerge from the Covid-19 pandemic,” said Gerard Morgan Jackson, head of structured finance at UTB (pictured above). 

“At UTB, we understand the challenges these businesses face and what support they need to make their plans happen. 

“We are keen to hear from property developers and investors looking to build a long-term relationship with a specialist lender that has the appetite and ability to help their business recover and grow.”

More details and information on how to apply for RLS facilities can be found on UTB’s website

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