United Trust Bank (UTB) has increased the maximum loan to value (LTV) lending amount on its standard and light refurbishment bridging loans to 65 per cent.
The lender’s bridging loans are available for borrowing amounts ranging from £125,000 to £15m and the minimum property value must be £150,000 or £100,000 for multiple securities.
Rates start from 0.48 per cent and automated valuation models can be used on loans of up to £1m, at a maximum LTV of 55 per cent and a maximum property value of £1m.
Mike Walters (pictured), sales director – property intermediaries at United Trust Bank, said: “Throughout 2020 United Trust Bank released a wide variety of products, criteria and digital enhancements to help property finance intermediaries write more business whilst still navigating the challenges created by the Covid-19 pandemic.
“As a result, the bank completed record volumes of new bridging business last year and we’re keen to top that achievement in 2021.”
He added: “This increase to our maximum bridging loan LTV is a clear signal of our confidence in the market, and our desire to support brokers and their customers in securing competitive and reliable funding from an experienced, through-the-cycle lender.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS