United Trust Bank (UTB) has combined its Property Development and Structured Property Solutions divisions to create a new Real Estate Finance division, to enhance support for developers and investors.
Adam Bovingdon
UTB said the move reflected 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.
In response to the environment, it said many developers were broadening their activities across different markets and tenures while adopting more flexible approaches to structuring projects and deploying capital.
As schemes become more varied and complex, access to funding solutions across multiple stages of the property lifecycle has become increasingly important, according to UTB.
By bringing together two experienced specialist lending teams under a single Real Estate Finance division, UTB will offer a more integrated approach to funding.
The combined division will provide a range of solutions spanning acquisition, development, refurbishment, investment, stabilisation and refinancing across residential, commercial and mixed-use property throughout England and Wales.
The new division is led by Adam Bovingdon, managing director of real estate finance, supported by Orla Costello, who leads property development across London and the South East.
Bovingdon is also supported by 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.”
