Until now, the bank’s bridging products were only available if the security property or properties were based in England or Wales.
UTB’s business development manager Paul Mansell, who serves brokers in the North East and Scotland, said he was looking to increase his contacts in Scotland.
Mansell added: “I’ve been working with several great brokers in Scotland and it’s clear there’s a growing demand for bridging finance. I’m looking forward to helping my existing broker contacts develop their bridging business as well as meeting new contacts throughout 2020.”
Mike Walters, head of sales – mortgages and bridging at United Trust Bank (pictured), said: “We’re continually enhancing and improving UTB’s property finance offering and I’m excited that we can now provide bridging for Scottish properties.
“We see huge potential to develop the bridging market in Scotland as we have done across many other parts of Great Britain over the last few years with considerable success.”
The Lending Channel, a broker firm based in Perth, Scotland completed UTB’s first bridging loan in the country which was a regulated loan of £160,000.to facilitate a house purchase.
Alistair Ewing, managing director at The Lending Channel, said: “We’ve enjoyed an excellent working relationship with UTB for a number of years and we were delighted when they decided to launch their short-term finance proposition in Scotland.”