United Trust Bank has made interest rate reductions across its range of bridging products by up to 0.10%.

Rates will now start from 0.65% per month on standard regulated bridging loans and large loan rates from 0.63% per month.

The specialist lender has also removed the higher standard rates for loans below £200,000, and applied the same rates to all loans above its minimum £100,000 loan size.

Standard regulated interest rates will start at 0.65% per month, reduced from 0.75% while standard unregulated interest rates will start at 0.73% per month, down 0.02%.

Regulated ‘large loan’ rates have been reduced by 0.01% per month to 0.63% and rates for heavy refurbishment loans are available from 0.8% per month for experienced borrowers up to 70% loan-to-value (LTV), down from 0.9%.

Rates for heavy refurbishment loans are available have been lowered by 0.1% to 0.9% per month for inexperienced borrowers up to 70% LTV.

UTB director of bridging Sundeep Patel says: “I am delighted that we are able to support our brokers by reducing interest rates across the entire range of UTB bridging products.”

“There has been a surge in demand for bridging finance following the latest reduction in the Bank of England base rate and news that housing market activity is increasing along with average house prices.”