United Trust Bank’s bridging arm has lowered loan sizes, reduced fees and cut rates.  

UTB Bridging has lowered its minimum bridging loan size to £50,000 from £100,000.

The specialist lender has also introduced a new lower admin fee of £195 for loans up to £100,000, a saving on the standard admin fee of £695.  

Interest rates for standard bridging and light refurbishment loans up to £100,000 start at 0.68% per month for regulated loans and 0.70% for unregulated loans. 

The unit has reduced its interest rates for regulated standard bridging and light refurbishment loans between £100,000 and £1.5m as follows: 

• Below 50% loan to value at 0.61% per month — from 0.68%

• Below 60% LTV at 0.64% per month — from 0.73%

• Below 70% LTV at 0.68% per month — from 0.75%

• Below 75% LTV at 0.72% per month — from 0.80%

United Trust Bank sales director – bridging Paula Purdy says: “We’ve listened to feedback from brokers telling us that they have customers who could benefit from using a bridging loan but only at smaller deal sizes.   

“The new £50,000 minimum loan size and lower admin fee opens up UTB’s competitive bridging and light refurbishment loans to a much wider market, and we’re sure brokers will be pleased to see that we’ve responded to their requests.”