United Trust Bank (UTB) has made two new appointments to its Property Development Originations team to increase its support of housebuilders and developers operating across the Midlands.
Tirath Singh joins the Bank as Director – Property Development. He has worked in business and real estate finance for over a decade, most recently with Avamore Capital and Assetz Capital. He has lived and worked in the West Midlands for many years and his local knowledge and experience will be extremely useful when supporting customers active across the region.
David Masters has worked with lenders including Oblix Capital and, most recently, Hampshire Trust Bank where he was a Senior Relationship Manager in their Development Finance team. He has several years experience working with housebuilders and introducers providing a range of tailored real estate finance solutions. In his role as Manager – Property Development, he will work closely with UTB’s Simon Cartwright, Director – Property Development, who has supported housebuilders and developers across the Midlands, Oxfordshire and northern home counties since joining UTB last year.
UTB is continuing to expand the division with more locally based Property Development Directors and Managers working with experienced housebuilders to provide the reliable, tailored funding they need to thrive despite the challenging economic environment. The Originations team is now 29 strong, including the recent appointment of Piragash Sivanesan who is focused on developing and deepening relationships with brokers and intermediaries serving SME housebuilder, developer and property investor clients operating across England and Wales.
Adam Bovingdon, Head of Property Development at United Trust Bank commented: “UTB continues to support experienced housebuilders in the face of strong economic headwinds sweeping across the property industry. We are investing in people who will provide customers with the support, advice and funding they need to seize opportunities and build the homes the UK still desperately needs. UTB has a vast collective experience of navigating the difficulties which can arise from downturns in economic and property cycles. Our customers benefit from this knowledge and the assurance working with a robust and reliable through the cycle lender brings.
“In the last few years we have established some successful new relationships with housebuilders operating across the East and West Midlands, and there a lot more we’d like to work with in the future. Tirath and David have joined us at just the right time. Housebuilders are always looking to acquire land for their next projects, coming to fruition in 2 or 3 years, but some may find their regular lenders more cautious and less amenable given the gloomier outlook. We’re keen to show experienced housebuilders that we’re in this for the long term and Tirath and David will be relaying that message to the market.”