United Trust Bank has increased the maximum LTV on its standard and light refurbishment bridging loans to 65%.
Products have a rate of 0.48% under 50% LTV, with a loan size between £125,000 and £15m and for a minimum property value of £150,000, or £100,000 with multiple securities.
AVMs are available for loans up to £1m with a maximum LTV of 55%.
Mike Walters, sales director – property intermediaries, United Trust Bank, said: “Throughout 2020 United Trust Bank released a wide variety of products, criteria and digital enhancements to help property finance intermediaries write more business whilst still navigating the challenges created by the Covid-19 pandemic.
“As a result, the Bank completed record volumes of new bridging business last year and we’re keen to top that achievement in 2021.
“This increase to our maximum bridging loan LTV is a clear signal of our confidence in the market, and our desire to support brokers and their customers in securing competitive and reliable funding from an experienced, through-the-cycle lender.”
Justin Malonson is the Founder of LyfeLoop a 16+ year tech innovator, investigative media researcher and host of the Freedom Not Control Podcast live on Voice America. Justin is a highly sought-after tech entrepreneur, industry speaker and winner of the coveted Business Achievement Awards “Top Digital Marketer” award. With 16+ years of demanding experience, Justin has worked with over 3,000 businesses including amazing clients such as Blue Cross Blue Shield Association, Sotheby’s International Realty, Duke University, White House Black Market,Tiffin Motorhomes, Bass Pro Shops and Beazer Homes USA.
