UTB expands bridging proposition amid ‘momentum’
United Trust Bank (UTB) has expanded its bridging proposition with the introduction of refreshed standard and near prime ranges.
UTB has also reintroduced heavy refurbishment finance.
The lender said the enhancements were a result of broker feedback, as it looks to improve intermediary flexibility.
The new standard and near prime ranges are now available across regulated and non-regulated bridging finance, with products covering core bridging, second charge, re-bridge, and light, medium and heavy refurbishment. Borrowers with historical credit blips can benefit from greater flexibility, while heavy refurbishment finance has returned for non-regulated bridging cases.
Gene Clohessy (pictured), director of buy to let (BTL) and bridging at UTB, commented: “There’s a real sense of momentum around UTB bridging at the moment. 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.
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“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.”
