United Trust Bank launches bridging promotion as product range expands
Brokers who submit a DIP for a bridging loan over £300,000 before the end of June will be entered into a prize draw for a chance to win a Champneys spa break for two.
United Trust Bank (UTB) has launched a new ‘Bigger DIPs’ promotion for bridging brokers after making a number of changes to its bridging product range and criteria.
Brokers who submit a decision in principle (DIP) for a bridging loan over £300,000 before the end of June will be entered into a prize draw for a chance to win a Champneys spa break for two.
Recent updates from UTB include reduced rates from 0.57% per month, dual legal representation now available on both regulated and unregulated cases, and the option for desktop valuations when a physical valuation is not needed.
Automated valuation models (AVMs) are now available up to 75% loan-to-value (LTV), with expanded usage across all bands.
The lender has also brought in more flexibility on light refurbishment cases, funding works up to 25% of initial LTV with a maximum budget of £200,000, and has updated its approach to personal guarantees on corporate applications.
Andrew Ferguson (pictured), commercial director – mortgages, BTL and bridging at UTB, said: “We’ve made some significant enhancements to our bridging proposition over the last six weeks, not least to pricing and friction free valuation options.
“This promotion will encourage brokers to check out how these changes are making a tangible difference to placing cases and completing deals with UTB.
“We’re providing more flexibility, faster routes to offer, greater confidence and the certainty brokers and their customers need.”
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