UTB cuts bridging rates by up to 0.16% a month

United Trust Bank (UTB) has cut rates by up to 0.16% a month on several products in both its regulated and unregulated bridging ranges, across every LTV band up to 75%.

The bank has also simplified pricing on its Near Prime product, aimed at borrowers whose credit history falls just outside prime criteria. The new rates are available immediately.

Where rates now start

Regulated core, re-bridging and light refurbishment loans start from 0.57% a month.

Regulated second charge loans start from 0.69% a month.

Unregulated core, re-bridging, and light and medium refurbishment loans start from 0.60% a month.

Unregulated heavy refurbishment loans start from 0.66% a month.

Unregulated second charge loans start from 0.75% a month.

More choice for brokers

Gene Clohessy, Director of BTL and Bridging at United Trust Bank, said the cuts and simpler pricing give brokers more choice and a better chance of securing competitive rates for clients, whatever their needs.

Brokers also want lenders who understand the complexities of bridging.

He added that brokers value lenders that make sensible decisions and deliver when it counts. He said UTB keeps refining its offer in response to feedback, aiming to make placing business with the bank quicker, easier and more competitive.

The cuts come amid continued competition among bridging lenders, with several adjusting pricing in recent weeks to win broker business.