UTB Bridging cuts rates and simplifies Near Prime pricing
By Tara SammonsNew reductions target a wide range of borrower needs
Section: Products
United Trust Bank (UTB) Bridging has reduced pricing across several products in every LTV band up to 75% in its regulated and unregulated bridging loan ranges by up to 0.16% pm.
The bank has also simplified its Near Prime product pricing.
The new lower rates are available with immediate effect.
Regulated core, re-bridging and light refurb rates start from 0.57% pm and regulated second-charge rates start from 0.69% pm.
Non-regulated core, re-bridging and light and medium refurb rates are available from 0.6% pm.
UTB’s unregulated second-charge rates from 0.75% pm and its heavy refurb rates are available from 0.66 pm.
Gene Clohessy, director — BTL and bridging at United Trust Bank (pictured above), commented: “By making these latest significant rate reductions and simplifying our pricing we're giving brokers greater choice and opportunity to secure competitive pricing for their customers whatever their requirements.
“Brokers also want lenders who understand the complexities of bridging, make sensible decisions and deliver when it matters.
“That's why we keep refining our proposition, responding to feedback and finding practical ways to make placing business with UTB quicker, easier and even more competitive.”
Keywords: United Trust Bank, UTB Bridging, UTB bridging rates, Gene Clohessy, bridging finance, bridging loan rates, regulated bridging loans, unregulated bridging loans, near prime pricing, second charge bridging loans, refurbishment finance, light refurbishment loans