Rates now start from 0.58% per month

Specialist lender United Trust Bank (UTB) has announced significant reductions in interest rates across its range of regulated and unregulated first and second charge bridging loans.
UTB has reduced the monthly interest rate on its standard and light refurbishment regulated bridging loans to 0.60% per month for loans under 50% loan-to-value (LTV). For larger loans ranging from £1.5 million to £5 million, rates now start at 0.58% per month, down from the previous 0.63%.
Unregulated bridging loans have also seen notable rate cuts. Larger loans under 50% LTV are now available from 0.60% per month, down from 0.72%. For loan amounts between £100,000 and £1.5 million, standard and light refurbishment unregulated bridging loans start at 0.62% per month.
Sundeep Patel (pictured), bridging director at United Trust Bank, said the new pricing aims to strengthen the bank’s position in the market.
“I’m delighted to announce these significant bridging rate reductions and send a strong message to brokers that we’re looking to write strong levels of new business this year by supporting customers in the market,” he said. “We’ve made the biggest changes to our unregulated bridging pricing where competition has been extremely fierce.”
For loans under 50% LTV, the interest rate is now 0.60% per month for regulated standard and light refurbishment loans and 0.62% per month for unregulated loans. Large regulated loans in this LTV bracket start at 0.58% per month, while large unregulated loans begin at 0.60% per month.
At LTVs up to 60%, the interest rate is 0.65% per month for regulated standard and light refurbishment loans and 0.67% per month for unregulated loans. Large loans in this category are priced at 0.63% per month for regulated products and 0.65% per month for unregulated loans.
For loans up to 70% LTV, rates are 0.70% per month for regulated standard and light refurbishment loans and 0.72% per month for unregulated loans. Large loans in this category start at 0.68% per month for regulated loans and 0.70% per month for unregulated options.
At 75% LTV, which applies only to standard regulated loans, the interest rate is now 0.75% per month, while unregulated loans at this level start at 0.77% per month.
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