United Trust Bank’s bridging arm has lowered loan sizes, diminished charges and reduce charges.
UTB Bridging has lowered its minimal bridging loan measurement to £50,000 from £100,000.
The specialist lender has additionally launched a brand new decrease admin price of £195 for loans as much as £100,000, a saving on the usual admin price of £695.
Interest charges for traditional bridging and lightweight refurbishment loans as much as £100,000 begin at 0.68% monthly for regulated loans and 0.70% for unregulated loans.
The unit has diminished its rates of interest for regulated commonplace bridging and lightweight refurbishment loans between £100,000 and £1.5m as follows:
United Trust Bank gross sales director – bridging Paula Purdy says: “We’ve listened to suggestions from brokers telling us that they’ve clients who may profit from utilizing a bridging loan however solely at smaller deal sizes.
“The new £50,000 minimal loan measurement and decrease admin price opens up UTB’s aggressive bridging and lightweight refurbishment loans to a a lot wider market, and we’re positive brokers might be happy to see that we’ve responded to their requests.”
