The lender said that regulated bridging rates start from 0.64% per month, while unregulated bridging rates begin from 0.72% per month.

The new interest rates are available with immediate effect, with the firm adding that the 0.64% rate is available for larger regulated loans of £1.5m-5m and 0.65% for regulated loans of £200,000-plus.

In the bank’s unregulated range, pricing starts from 0.72% for larger loans of £1.5m-5m and 0.75% per month for light refurbishment loans of £100,000-plus.

The lowest rates are in place for loans below 50% loan to value (LTV) and UTB will look at bridging loans above £5m on a referral basis.

Sundeep Patel (pictured), director of bridging at UTB, said: “We are delighted to continue to support the growing market with competitive products for small and large loans. The market feels more stable and positive with consumer confidence returning.

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“Our products still benefit from our fast-track process for applicable cases and brokers can also benefit from our online portal when making case submissions and creating DIPs.”