UTB enhances criteria in bid to grow unregulated bridging business

United Trust Bank (UTB) has made several changes to its fast-track and Hometrack AVM criteria, as it targets growth in its unregulated bridging business.

Across its fast-track offering, the lender has increased the maximum loan size from £750,000 to £1m, and maximum LTV from 60% to 65%.

Meanwhile, for its Hometrack AVM service, UTB has upped the maximum individual property value from £1m to £2m and the maximum LTV from 60% to 65%.

UTB’s fast-track service — launched in January 2021 — has a dedicated team and simplified underwriting process designed to accelerate the turnaround times of straightforward regulated and unregulated bridging applications.

When combined with Hometrack AVM, brokers can get instant pass/fail indications and can produce their own terms and DiPs in minutes, 24 hours a day. 

Owen Bentley, head of sales for bridging at UTB (pictured above), said: “We have established UTB as one of the foremost providers of regulated bridging finance in the market, and now we are turning our attention to growing our share of the unregulated sector. 

“Brokers are benefitting from a winning combination of highly skilled and knowledgeable people and innovative processes and technology, which together deliver quick, reliable decisions and payouts.

“Unregulated loans tend to be bigger and at higher LTVs, so these enhancements to fast-track and Hometrack AVM criteria give brokers greater scope to consider UTB for their professional clients and enjoy the exceptional service we provide, whether through fast-track or standard application routes.

“This is the first of several criteria, product and process changes we will be announcing over the next few weeks, all of which will make UTB an even more attractive option for brokers looking to source competitive unregulated and regulated bridging loans.”

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