London Credit has confirmed rate reductions across its product range, including cuts of up to 60 basis points (bps) on commercial and semi-commercial bridging loans. Residential bridging rates have also been reduced by up to 24bps.

Pricing now starts from0.66% for residential loans; 0.74% for semi-commercial loans and 0.80% for commercial loans

United Trust Bank (UTB) Bridging has reduced interest rates on regulated and unregulated bridging loans at various LTVs, including reductions of up to 15bps on its unregulated second charge bridging loans.

For loans up to 70% LTV, rates have reduced from 1.10% per month to 0.95% per month and for loans up to 60% rates have reduced by 10bps to 0.90% per month.

Larger regulated and unregulated loans of £1.5m to £5m are now available up to 75% LTV at 0.75% per month and up to 70% LTV at 0.70% per month.

The bank has increased appetite for re-bridging with higher maximum LTVs, increased acceptance of AVMs up to 75% LTV, and will now offer its Light and Heavy Refurbishment loans up to a maximum of 75% LTV with more flexible criteria.