United Trust Bank targets growth in Non-Regulated Bridging with expanded Fast Track limits and AVM enhancements

United Trust Bank (UTB) has announced it is targeting growth in Non-Regulated Bridging business in 2022 and revealed a raft of Fast Track and AVM criteria enhancements which will increase opportunities for brokers to recommend the specialist lender to professional property developer and investor clients.

The following criteria changes have been made with immediate effect:

Fast Track

  • Max LTV – Increased from 60% to 65%
  • Max loan – Increased from £750k net to £1m net

Hometrack AVM

  • Max LTV – Increased from 60% to 65%
  • Max individual property value – Increased from £1m to £2m
  • Max loan qualifying for Hometrack AVM remains unchanged at £1m net

UTB’s award winning Fast Track service has a dedicated team and simplified underwriting process designed to accelerate the turnaround times of straightforward regulated and non-regulated bridging applications.

The increased maximum loan size of £1m (net) is expected to substantially increase the volume of cases brokers can now place through Fast Track service which when combined with Hometrack AVMs can give brokers instant pass/fail indications and allow them to produce their own terms and Decisions in Principle (DiPs) in minutes, 24 hours a day. The service enables brokers submitting ‘self-service’ applications to proceed quickly with greater speed, accuracy and certainty.

Owen Bentley, Head of Sales – Bridging, United Trust Bank, commented: “We have established UTB as one of the foremost providers of regulated bridging finance in the market and now we are turning our attention to growing our share of the non-regulated sector. Brokers are benefitting from a winning combination of highly skilled and knowledgeable people and innovative processes and technology which together deliver quick, reliable decisions and pay outs.

“Non-regulated loans tend to be bigger and at higher LTVs so these enhancements to Fast Track and Hometrack AVM criteria give brokers greater scope to consider UTB for their professional clients and enjoy the exceptional service we provide, whether through Fast Track or standard application routes.

“This is the first of several criteria, product and process changes we will be announcing over the next few weeks all of which will make UTB an even more attractive option for brokers looking to source competitive non-regulated and regulated bridging loans.”