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United Trust Bank raises maximum bridging loans to 65 per cent LTV

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  • 12/01/2021
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United Trust Bank raises maximum bridging loans to 65 per cent LTV
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.” 

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