United Trust Bank (UTB) has expanded the criteria for its Fast-Track bridging service.
The improved Fast-Track qualifying criteria includes the maximum loan size increased to £750,000 net from £500,000.
In addition, UTB has increased the maximum loan-to-value (LTV) to 60% from 55%, and the maximum LTV for automated valuation models (AVMs) to 60% from 55%.
Amadeus Wilson, director at SPF Private Clients, said: “UTB’s Fast-Track service has enhanced our business by offering a very slick, simple and streamlined process which enables us to get offers within 24 hours and transactions into solicitors hands very quickly.
“Speed and certainty is vital in the bridging business with time pressures on clients increasingly compressed by demanding vendors in this competitive market.
“UTB’s online portal is quick and easy to use and the Fast-Track process helps us to retain and convert more business.
“UTB constantly look for ways to adapt and improve their proposition and the expanded Fast-Track criteria is great news for us and our clients.”
Owen Bentley, head of sales – bridging at UTB, added: “We’ve been delighted by the amazing response and feedback we’ve had from brokers since launching Fast-Track to the wider market earlier this year and the expanded criteria will allow even more brokers and customers to benefit from the lightning quick turnaround the service provides.
“Fast-Track underlines UTB’s position in the market as a go-to lender for all brokers’ bridging requirements, regardless of complexity.
“We’re always talking to brokers and looking for ways to make bridging simpler and more accessible and Fast-Track appears to have really hit the spot.
“We know how competitive the market is and we’ll continue to support brokers with innovative solutions backed by skilled people dedicated to helping them place and complete more business.”