United Trust Bank has expanded its development finance division with the appointment of a new director and manager.
Hardeep Thandi from Aldermore has joined UTB as director of property development, alongside the recruitment of industry experienced Martin Nield as a manager.
Thandi has over 14 years of experience in a number of industry sectors; including property development and commercial and corporate banking.
His responsibilities will include promoting the development finance offering to SME housebuilders, developers, property investors and specialist introducers. Relevant parties will be those across the Midlands, Yorkshire, Humber and the North East.
Thandi will also work alongside Huw Jenkins to cover the North of England.
Martin Nield will be based in London with the responsibility of supporting senior managers Phil Bird and Rob Syrett in serving its extensive client base and expanding the development finance portfolio.
Nield comes from a background in the asset finance sector for both lenders and brokers, as well as property finance which he moved into with Secure Trust Bank.
“With Hardeep and Martin joining the team, we have strengthened our presence in the north of England and London, where we see considerable potential for further growth,” said Adam Bovingdon, senior director of property development at United Trust Bank.
“By increasing our customer and broker support around the country and building greater awareness of UTB and our development finance offering, we aim to make the bank a first pick for SME housebuilders and developers looking for competitive products and the backing of a reliable, knowledgeable and supportive finance partner.
“Hardeep and Martin bring experience and enthusiasm to the team and they share our commitment to supporting SME housebuilders and developers.”
Adam explained that while the Covid-19 pandemic had changed the UK’s economic landscape, the demand for housing remained a key issue.
“SME housebuilders can have a significant part to play in the delivery of those new homes and we are keen to provide the funding to enable them to seize opportunities and keep building.”
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The news follows UTB’s approval for accreditation by the British Business Bank as a lender for the Coronavirus Business Interruption Loan Scheme (CBILS) in June 2020.
The bank’s CBILS offering is aimed exclusively for SME housebuilders, developers and investors whose businesses have been impacted by the COVID-19 pandemic.