CashNews.co
United Trust Bank (UTB) has introduced a raft of interest rate reductions across its range of unregulated and regulated bridging finance products.
The new interest rates, available with immediate effect, start from just 0.64% per month for larger regulated loans of £1.5m to £5m and 0.65% per month for regulated loans of over £200,000.
In the bank’s unregulated range, rates are as low as 0.72% per month for larger loans of £1.5m to £5m and 0.75% per month for light refurbishment loans of over £100,000.
The lowest rates apply to loans of less than 50% loan-to-value (LTV) and UTB will consider bridging loans above £5m on a referral basis.
Sundeep Patel, director of bridging at United Trust Bank, 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.
“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.”