UTB has reduced interest rates across their range of regulated and unregulated bridging finance products. This reduction is up to 14 basis points (bps) – a basis point is one-hundredth of a percentage point, so this is a notable decrease. For regulated standard and light refurbishment bridging loans, rates have dropped from 0.75% per month (p.m.) to 0.72% p.m. But the most significant cuts are in their unregulated products: standard and light refurbishment rates are now starting from 0.75% p.m., and heavy refurbishment products from 0.85% p.m.

Lower Minimum Loan Size

Adding to the appeal, UTB has also reduced its minimum loan size from £125,000 to £100,000. This change opens up opportunities for those needing smaller loans, making bridging finance more accessible to a broader range of borrowers.

Expanded Geographic Reach

UTB’s loans are now available for properties across all mainland Scotland (excluding the Isles), widening their market reach and providing more options for borrowers in these regions.

Market Confidence and Stability

Sundeep Patel, director of bridging at UTB, highlights that these changes come at a time when market confidence is growing. Factors like the base rate, swap rates, and property market are stabilising, increasing confidence among lenders and borrowers. This stability is a positive sign for those looking to invest in property or needing short-term financial solutions.

A Strong Partner in Bridging Finance

Patel emphasizes UTB’s position as a long-established, well-funded lender with a reputation for flexibility and agility. This makes them an attractive choice for brokers and their clients, indicating a reliable and supportive partnership for those navigating the bridging finance market.