United Trust Bank has combined its property development and structured property teams to form a new real estate finance division.
The lender said the reorganisation would strengthen its ability to support developers and investors across residential, commercial and mixed-use property in England and Wales.
The division will provide finance for acquisition, development, refurbishment, investment, stabilisation and refinancing.
UTB said the move reflected changes in the development and investment markets, with rising costs, tighter margins, planning delays and regulatory demands prompting developers to operate across a wider range of sectors and tenures.
The combined team will be led by Adam Bovingdon, managing director of real estate finance. Orla Costello will lead property development in London and the South East, while Andy Thomson will oversee living sectors and regional property development.
Liam Lawlor will head structured property finance and Ben Peters will lead strategic partnerships.
The announcement follows growth across UTB’s real estate lending businesses, particularly structured property finance. The bank said it would continue to expand both teams as demand for flexible funding increased.
Bovingdon (picturde) 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.”
