Bridging for Intermediaries | United Trust Bank

Pricing & Fair Value Assessment

These documents are for Mortgage Intermediaries only to enable you to understand the characteristics of our products, the identified target market (including any characteristics of vulnerability), our distribution strategy for the product and our internal assessment of its fair value. You should use this information to assist you to comply with your responsibilities under PRIN 2A.3.16 R and PRIN 2A.4.16 R.

Please note that you are ultimately responsible for meeting your obligations under ‘The Consumer Duty’ and any other regulatory obligations for the activities you undertake.

Bridging Finance

We’re here to help Property Finance intermediaries

United Trust Bank has been a specialist UK lender for over 65 years and provided flexible and reliable bridging finance for more than a decade. During this time, we have established an enviable reputation for competitive products, award-winning service and the ability to get deals done. Our aim is always to help you and your clients achieve your goal cost-efficiently and with as little stress and fuss as possible. Knowledgeable, reliable and accessible, our experienced team understand that flexibility and speed are at the heart of successful bridging finance.

We are proud to be founding members of the Association of Short Term Lenders (ASTL), patrons of the National Association of Commercial Finance Brokers (NACFB) and members of the Financial Intermediary & Broker Association (FIBA) Lender Committee.

Why choose UTB for Bridging Finance?

Bridging loans can provide quick and flexible solutions for borrowers in a wide variety of circumstances. Every bridging loan is different, each case presents its own challenges, and every borrower has their own priorities. We work hard to understand exactly what you and your clients require to help you secure a loan that will proceed smoothly and deliver the funds you need when you need them. We offer competitive rates and slick processing employing the latest innovative and secure technology, all backed by a dedicated and experienced team.

Our streamlined Fast-Track bridging service is perfect for more straightforward proposals, using automated valuation models (AVMs) when appropriate for speed and cost savings, and features such as dual legal representation and app based biometric ID verification all contribute to faster application processing. We are equally adept at handling the challenging cases that require a full valuation, together with a more detailed assessment and underwrite.

What can our Bridging loans be used for?

Bridging finance can be used for any number of reasons. To give a few examples, bridging can be used to bridge the gap between the purchase of a new property and the sale of an existing one, if your clients are breaking a chain, downsizing, or buying at an auction. Your client may be looking to buy and improve or convert a property to let or sell on or thinking about restructuring the funding of a portfolio of properties to secure better terms or release capital. These are just some of the more common reasons customers choose bridging finance from UTB.

Please see our case studies section for some examples of recently funded cases.

Key features

These include:

Loans from £125k to £15m
FCA regulated and unregulated loans
Loan term up to 12 months (regulated) & 36 months (unregulated)
First, second and combination charges
No maximum age limit
No early repayment charges
Interest calculated daily
No monthly repayments required
Dual legal representation available
Automated valuations used where applicable
Light and Heavy refurbishment projects
Fast Track process available for certain applications

Our lending criteria

These include:

Residential, HMO and mixed use security
Land with planning and commercial property considered
Max LTV 75% of market value
Minimum property value £150k for single securities, £100k for multiple securities
Security property located in England, Wales or Scotland
Individual, corporate and trust borrowers
Realistic and viable exit strategy

More product information

Light refurbishments (ie. non-structural works) fall within our standard bridging product.

For Heavy refurbishment projects, please see our Flexible Refurbishment Finance.

For more detail on all our products, including our Fast Track service, please see our Product Guides.

How can we help?

Product guides

Document library

Find your BDM

Frequently asked questions

Why use United Trust Bank?

We are bridging specialists and offer brokers and their customers certainty, quality, tailoring and strength.

Certainty. We are a fully regulated bank. In a sector of often unfamiliar names, you can be sure that we will always have the funds to complete your cases. We can also act quickly and have completed loans in under two weeks.

Quality. We appreciate that for many brokers, bridging loans are not an everyday experience. We provide as much assistance as you need and work in partnership with you to get loans completed. We find that open and honest engagement between lender and broker achieves the best results and helps us to build a profitable, long-term relationship.

Tailoring. Completing bridging loans is not about ticking boxes and following process. Each case is unique and presents different challenges. We work hard to understand your case and task a dedicated case manager with ensuring that your client’s loan completes within the required time frame.

Strength. United Trust Bank has operated successfully for more than 50 years. We have a long-term commitment to the bridging sector and a dedicated team of highly experienced individuals, focused on using our strength to serve you.

What do you lend against?

We lend against residential, HMO & mixed use properties, or properties being converted into these. We can also consider lending against Land with planning and commercial property on a case-by-case basis.

What do you require?

For a credit approved decision in principle, we need a completed one page quick enquiry form, which can be downloaded here. If your client wishes to proceed further, our team will advise next steps in the application process. If you’d like access to our online broker portal, please speak to your BDM.

How long does it take?

The time taken to complete a bridging loan depends on the borrower’s requirements. They can complete within a few days of the initial enquiry but this requires all parties involved to work together effectively and for the valuer to have immediate access to the security property if required.

Are there any upfront fees?

In most cases, the only upfront cost is the valuation fee. On limited occasions, we may charge an application fee for extremely complicated or time-sensitive cases where the borrower is seeking the assurance of having an offer of finance. This will be communicated to you at the outset if required. Any application fee is refundable upon drawdown of the loan.

Where do you lend?

England, Wales and Scotland.

Do you have a maximum age for borrowers?

No, there is no maximum age limit for borrowers.

As a broker, can I instruct the valuation?

We will usually instruct the valuation using a valuer chosen by the Bank. However, if the security property has had a recent valuation carried out we may be able to use it. If this applies, please discuss with a member of our team.

Does my customer need an exit in place?

The exit or repayment method is perhaps the most important aspect of a bridging loan. There must always be a realistic exit but it does not have to be in place when the bridging loan draws down. For example, if the loan is to be repaid by the sale of a property, contracts do not have to be exchanged. It is usually enough that the property is being marketed.

What can the loan be used for?

Bridging loans can be used for any lawful purpose. However, we are unable to help with “credit repair” cases. Please speak to a member of our team for more information.

Do you offer Financial Conduct Authority regulated bridging loans?

Yes we do. We are regulated by the FCA and also authorised by the PRA.

Do you require proof of income?

Only where the loan is to be serviced or where the exit strategy is income reliant or involves a refinance onto a long-term mortgage.

What happens if the loan is repaid early?

The loan can be repaid at any time without penalty or early repayment charges. Interest is charged on a daily basis so you only pay interest for the number of days that the loan was outstanding. However, we always require a minimum of the first month’s interest to be paid.

Can you lend outside your usual criteria?

We can be flexible in the right circumstances. Please call us to discuss cases that you believe are outside our criteria but which you would like to explore further with us.

Can you lend to LLPs, SPVs, trusts, SIPPs or offshore companies?

Yes, we are able to lend to various legal entities/structures. We will usually require limited personal guarantees for loans made to non-personal customers.

Can the borrower use your solicitor or do they need their own?

Borrowers will always require legal representation. For most loans to personal customers the borrowers can elect to use dual legal representation (ie. where the borrower chooses a solicitor from our panel to act for both themselves and the Bank).