UTB launches refurbishment bridging product

UTB launches refurbishment bridging product



Today, United Trust Bank has launched its new short term refurbishment product aimed at experienced property professionals .


Today, United Trust Bank has launched its new short term refurbishment product aimed at experienced property professionals...
 
The product offers loans up to a maximum of 65 per cent of day one value on a fixed monthly rate of 0.95 per cent. Crucially, borrowers will also be able to draw down 100 per cent of refurbishment costs.
The product launch is being overseen by the Bridging Department's Nick Warren, who recently joined the Bank from Regentsmead. Nick boasts a decade of experience in similar schemes.
 
Alan Margolis, Head of Bridging at United Trust Bank, commented: “The short term bridging loan market is continually evolving and there has been increasing use of short term bridging loans to acquire and renovate properties.
 
“We have recognised this by creating a specific tailored bridging product which intermediaries will be able to offer to their professional clients.”
Alan added: “Nick’s experience in this field will enable us to focus on customer service aligned with our competitive pricing and I am confident that our refurbishment product will be extremely successful.”


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