United Trust Bank (UTB) has combined its Property Development and Structured Property Solutions divisions to create a new Real Estate Finance division.
The specialist lender says the move will strengthen its ability to support developers and investors across different stages of the property lifecycle as projects and funding requirements become increasingly complex.
The combined division will provide finance spanning acquisition, development, refurbishment, investment, stabilisation and refinancing across residential, commercial and mixed-use property throughout England and Wales.
It follows a period of growth across UTB’s real estate lending operations, particularly Structured Property Finance, with the bank planning to continue expanding both teams.
BOVINGDON TO LEAD NEW DIVISION
The Real Estate Finance division will be led by Adam Bovingdon (main picture) as Managing Director.
Orla Costello will lead Property Development across London and the South East, while Andy Thomson will lead Living Sectors and Property Development in the Regions.
Liam Lawlor will head Structured Property Finance and Ben Peters will lead Strategic Partnerships.
UTB says combining the teams will give borrowers and brokers access to a broader range of expertise while maintaining its relationship-led approach to lending.
The restructure comes as developers contend with higher costs, tighter margins, planning delays and regulatory requirements, while increasingly operating across different property sectors and tenures.
‘ENTIRE PROPERTY LIFECYCLE’
Bovingdon says: “The way our customers approach development and investment has evolved considerably in recent years.
“Today’s developers are increasingly operating across multiple sectors, tenures and funding strategies, requiring a lending partner capable of supporting them throughout the entire property lifecycle and across a variety of project types.
“Bringing together our Property Development and Structured Property Finance divisions enables us to do exactly that.
“This is an exciting new chapter for UTB.
“We’ve combined two exceptional teams with complementary skills, deep sector expertise and a shared commitment to relationship banking. For our customers and broker partners it means broader expertise, greater flexibility and more seamless experience.
“We remain committed to supporting developers and investors through changing market conditions and helping them capitalise on opportunities wherever they arise.
“We’re looking to the future with great confidence and are excited to continue to grow alongside our customers.”
