United Trust Bank has loosened its lending criteria for its Fast Track bridging service launched six months ago.

The lender says the move comes after the product, launched to brokers in February, proved popular among advisers “looking for quick decisions and payouts on straightforward bridging proposals”.

The product’s criteria changes see its maximum loan size lifted to £750,000, from £500,000.

Maximum loan to values rise to 60%, from 55%.

And maximum LTV for automated valuation models also lift to 60%, from 55%, which the bank says applies across all standard and Fast Track bridging proposals.

The firm says its “light-touch” service means advisers can create their own terms, decisions in principle and European standardised information sheets using its self-service broker portal, or work with the lender’s in-house Fast Track team.

It adds the product uses cutting-edge fintech features such as biometric ID verification and dual legal representation, to move applications “to offer and drawdown quickly and easily”.

United Trust Bank head of sales bridging Owen Bentley says: “We’ve been delighted by the amazing response and feedback we’ve had from brokers since launching Fast Track to the wider market earlier this year and the expanded criteria will allow even more brokers and customers to benefit from the lightning-quick turnaround the service provides.

“We know how competitive the market is and we’ll continue to support brokers with innovative solutions backed by skilled people dedicated to helping them place and complete more business.”