United Trust Bank (UTB) has increased its maximum LTV for first charge standard bridging loans from 70% to 75% with immediate effect. The new maximum LTV applies to the specialist lender’s regulated and unregulated standard bridging products. UTB confirmed the maximum LTV for light and heavy refurbishment bridging loans remains 70%, as does the maximum LTV for second charge bridging loans.

Foundation Home Loans has launched new products for portfolio landlords in its buy-to-let (BTL) range. These products are within the lender’s F1 tier – for borrowers with an almost clean credit history – and are both five-year fixes. At 65% LTV, the rate is 5.24% and at 75% LTV the rate is 5.34%, while Foundation also confirmed that both products come with a 6% fee. These new BTL specials follow Foundation cutting rates at the end of November on its other specials in both the BTL and owner-occupied ranges.

Alternative Bridging has relaunched the term loan, which now features no early repayment charges (ERCs). The alternative term loan is available for terms between three and five years up to a maximum of 70% LTV and a maximum loan size of £4m. The no ERC offering provides borrowers with the flexibility to refinance onto a longer term if they find a rate that proves attractive. The alternative term loan provides secure funding for the property industry and business community, available to support new and growing businesses, asset management situations or to release working capital.

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