United Trust Bank (UTB) has increased the maximum loan to value (LTV) it will offer for first charge standard bridging loans from 70 per cent to 75 per cent effective immediately.
The updated LTV applies to regulated and unregulated standard bridging products and the maximum LTV for light and heavy refurbishment is still 70 per cent LTV.
The maximum LTV for second charge bridging loans also remains at 70 per cent.
Bridging loan rates begin from 0.77 per cent per month.
Sundeep Patel (pictured), director of bridging at UTB, said: “We are committed to supporting our brokers and helping them to secure the funding their clients need. Brokers are telling us that their customers are looking for higher LTV bridging loans to help them seize opportunities and achieve their goals.
“With the outlook for the economy becoming increasingly brighter, we’re delighted to show our growing confidence by offering up to 75 per cent LTV bridging loans on suitable deals.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
You may also be interested in the Mortgage Solutions newsletter. All the latest news, analysis and insight from the mainstream residential lending market. Including industry news, adviser business strategy tips and market commentary.