United Trust Bank has launched its ‘fast-track’ bridging services across the UK.

Soft launched towards the end of last year, the service aims to streamline bridging applications by allowing users to either create their own terms, Dips, and ESIS through the lender’s broker portal or with the help of a special fast-track term.

UTB says that technology such as biometric ID verification, AVMs and dual legal presentation are harnessed to make things quicker and easier.

The criteria for a fast-track application are loan at up to 55 per cent LTV with a maximum of £500,000 sought and a maximum of two security properties – AVMs and/or valuations.

Applicants will also need to have a primary exit plan through sale or refinance of security properties and no heavy refurbishment of property improvement loans.

United Trust Bank bridging commercial director Gavin Diamond says: “This is an exciting evolution of our bridging service and we firmly believe this will enable brokers to do more business, quicker and more easily with UTB.

“We understand that a quick turnaround is vital to most customers, and often why they’ve chosen bridging in the first place, so having developed and implemented a number of time and effort saving systems and processes, we’ve brought them all together to provide this market leading bridging service.

“Feedback from the brokers who participated in our soft launch has been overwhelmingly positive and we’re now ready to make it available to all UTB registered brokers.”

Impact Specialist Finance managing director Dale Jannels adds: “We were very pleased to take part in the soft launch of UTB’s new ‘Fast-Track’ service and our experience through the testing phase has been excellent.

“The key to sourcing and delivering bridging finance is speed and efficiency and this service provides a really quick turnround if cases are submitted correctly. UTB is once again employing FinTech and experienced, dedicated people to provide a welcome and innovative service to the bridging market.”