"The introduction of near prime is particularly exciting because it enables us to support good customers whose circumstances may not quite fit standard criteria."
- Gene Clohessy - UTB
United Trust Bank (UTB) has announced that it is expanding its bridging proposition with the introduction of new standard and near prime ranges and the return of heavy refurbishment finance. UTB’s bridging rates start from 0.57% per month.
Available with immediate effect, UTB says that the updated proposition has been shaped by broker feedback and is designed to give intermediaries more options across a wider range of borrower circumstances, property types and transaction complexities.
A key addition is UTB’s new near prime bridging range, available across both regulated and non-regulated bridging finance. The new products are designed to bridge the gap between standard and more specialist lending, enabling UTB to consider borrowers with historic credit events which may fall outside typical bridging lending criteria.
Key updates include new standard and near prime ranges across regulated and non-regulated bridging finance, greater flexibility for borrowers with historic credit blips, heavy refurbishment finance returns for non-regulated bridging cases, and products covering core bridging, second charge, re-bridge and light, medium and heavy refurbishment.
The expanded range aims to provide brokers with a broader toolkit for both straightforward and more complex cases, with dedicated re-bridging and second charge options alongside UTB’s refurbishment proposition.
"There’s a real sense of momentum around UTB Bridging at the moment," Gene Clohessy (pictured above), director - BTL & bridging at United Trust Bank, said. "We are delighted with the response to our new bridging portal and now we’re quickly following that with a significantly broader proposition, giving brokers more options and more reasons to bring bridging cases to UTB.
"The introduction of near prime is particularly exciting because it enables us to support good customers whose circumstances may not quite fit standard criteria, while the return of heavy refurbishment strengthens our ability to support more ambitious property projects. Combined with competitive pricing and a much broader range of regulated and non-regulated options, this represents a significant step forward for our proposition.
"Technology is helping us remove friction and accelerate the straightforward parts of the journey, while our experienced people remain available to apply judgement, talk through cases and find solutions when things are more complex. That combination is exactly where brokers want UTB Bridging to be, and there’s plenty more exciting changes to come."
