Following a soft launch at the final quarter of 2020, United Trust Bank (UTB) has launched a ‘Fast-Track’ service for bridging applications.
Supported by a dedicated Fast-Track team, the new streamlined service for loans meeting qualifying criteria is designed to simplify the process for straightforward transactions.
Brokers are able to create their own Terms, DIPs and ESIS using UTB’s self-service broker Portal, or liaising with the in-house UTB Fast-Track team if they prefer. Fast-Track utilises some of UTB’s existing services such as Biometric ID verification, AVMs and dual legal presentation, to progress the application to offer and drawdown quickly and easily.
The Fast-Track qualifying criteria are as follows:
- Maximum loan size £500k net
- Maximum 55% LTV
- Maximum of two security properties – AVMs and/or Valuations
- Primary exit through sale or refinance of security properties
- No heavy refurbishments/property improvement loans
Gavin Diamond, commercial director – bridging, United Trust Bank, said: “This is an exciting evolution of our bridging service and we firmly believe this will enable brokers to do more business, quicker and more easily with UTB. We understand that a quick turnaround is vital to most customers, and often why they’ve chosen bridging in the first place, so having developed and implemented a number of time and effort saving systems and processes, we’ve brought them all together to provide this market leading bridging service.
“This new service will further complement UTBs position in the market as the home for all bridging applications, regardless of their complexity. Through the introduction of a dedicated internal Fast-Track team to process these applications, we can offer the best possible service and maintain our USP of being an approachable lender that wants to support and work with our Brokers.
“Feedback from the brokers who participated in our soft launch has been overwhelmingly positive and we’re now ready to make it available to all UTB registered brokers.”