Rates from 0.65% per month are now available on standard regulated bridging loans, while large regulated loan rates start from 0.63% per month.
The lender has also removed the higher standard rates for loans below £200,000, instead applying the same rates to all deals above its minimum £100,000 loan size.
Key changes include:
• standard regulated interest rates starting at 0.65% per month - previously 0.75%
• standard unregulated interest rates starting at 0.73% per month – previously 0.75%
• regulated ‘large loan’ rates starting from 0.63% per month - previously 0.64%
• rates for heavy refurbishment loans available from 0.8% per month for experienced borrowers up to 70% LTV – previously 0.9%
rates for heavy refurbishment loans available from 0.9% per month for inexperienced borrowers up to 70% LTV – previously 1%
“I am delighted that we are able to support our brokers by reducing interest rates across the entire range of UTB bridging products,” said Sundeep Patel, director of bridging at UTB (pictured above).
“This decision to cut rates reflects our increasing confidence in the market and the economy and we want to support brokers and customers with great service and competitively priced bridging finance solutions to help them seize opportunities and achieve their goals.”
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