United Trust Bank (UTB) has combined its property development and structured property solutions divisions to create a new real estate finance division. The move aims to reflect the evolving nature of real estate lending in the property development and investment sector, amid rising costs, tighter margins, planning delays and increasing regulatory demands.
By bringing together the two specialist lending teams, UTB says it will offer a more integrated approach to funding.
The new division will be led by Adam Bovingdon (pictured) as managing director of real estate finance. Supporting Bovingdon will be Orla Costello, leading property development across London and South-East, Andy Thomson, leading living sectors and property development in the regions, Liam Lawlor, heading up structured property finance and Ben Peters, leading strategic partnerships.
Bovingdon said: “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.”
He added: “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.”
