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.”
This post has originally been featured in Property Wire.