United Trust Bank (UTB) is providing the senior funding for an £11.5m development in a desirable West London location providing 30 new apartments over six storeys. The scheme is being constructed by a long established and successful house builder which UTB has been interested in working with for some time. The borrower and the Bank…
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The funding was over 48 months with a £61,000 balloon payment. The proposal came from Vehicle and Asset Finance Ltd who regularly transact business with UTB but was the first proposal received from this individual at the brokerage. Klara Hanrahan, UTB Asset Finance BDM, said: “I’ve tried to win this particular broker over for some…
United Trust Bank (UTB) was pleased to provide a £2.5m bridging facility to enable the swift purchase of a fully tenanted HMO at a significant discount to market value. The borrower, a ‘Value Add’ Investor, had previous experience of similar acquisitions and UTB were comfortable with the circumstances of the purchase and the reason for…
BORROWER ‘Value Add’ Investor-Developer AMOUNT £10.9 million LOAN TYPE Investment Finance Term Loan LOCATION Greater London LTV 69% PROJECT TYPE Mid Term Investment with Stabilisation Period SPECIAL FEATURES • Underwritten and drawn during Covid-19 lockdown • Equity release • Interest margin reductions as the building achieves letting benchmarks UTB’s Structured Finance team were approached by…
Being a single father of a teenager can be expensive. Our applicant noticed the balances on his credit cards were creeping up and his disposable income was shrinking. He decided it was time to sort out his finances and make a fresh financial start in the New Year. The applicant discussed his options with a…
United Trust Bank (UTB) has agreed to fund a Senior Living development in the East of England. The development of 99 independent living (retirement) apartments comprises 37 affordable rented and 62 apartments for sale, with options for shared ownership, and a central community ‘hub’. The finished property will provide communal facilities including a bistro/dining area,…
United Trust Bank’s Asset Finance division has a strong track record of funding and refinancing some very desirable cars as well as the buses, HGVs and construction plant it is perhaps better known for. Included amongst them are various Bentleys, Rolls Royces, a Ford GT40 and a number of classic Aston Martins. Several of them…
United Trust Bank (UTB) completed a bridging facility for a developer in unusual circumstances. The borrower and his family were occupying the original house on the site and marketing a second new-build 4 bedroom, 4 bathroom home at 2nd fix stage for sale. Both properties were on a single title. The developer wished to give…
United Trust Bank’s Bridging team were approached to assist a married couple in the purchase of a property which would become their new home. The property was situated in a sought-after area of South London but required significant improvements. The modernisation works were scheduled to take three months and the borrowers were able to show…
UTB’s Structured Finance team were approached by an experienced developer who was seeking funding to refinance a recently completed 5 storey new build apartment block together with basement car parking located in a central city location. The scheme comprises 34 apartments together with allocated parking which appeal to both investors and owner occupiers given its…
United Trust Bank is providing the funding for phase 2 of the redevelopment of a site featuring a prominent Grade II listed building having successfully funded phase 1. The Bank has supported the growth of the Borrower by funding increasingly larger schemes across multiple sites in recent years. The landmark building occupies an elevated position…
