UTB makes two hires to property development originations team in Midlands

Singh takes on the role of director of property development and joins the firm from Avamore Capital where he was a relationship manager for nearly two years.

Prior to that he worked at Assetz Capital as a senior relationship manager for around three years, and before that he held roles at BCRS Business Loans, Wesleyan and Natwest.

UTB said that he had lived and worked in the West Midlands for many years and had local knowledge and experience what would be “extremely useful” supporting customers in the region.

Masters will take on the role of manager for property development and will work closely with Simon Cartwright, director for property development, who has helped housebuilders and developers across Midlands, Oxfordshire and Northern home counties since joining the company last year.

He joins from Hampshire Trust Bank where he was a senior relationship manager for development finance for around two years, and before that was an assistant relationship manager at Oblix Capital for around a year.

Masters has also worked at Go Developer and Property Partner.

Adam Bovingdon, head of property development at United Trust Bank, said: “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.”

He added: “Our customers benefit from this knowledge and the assurance working with a robust and reliable through the cycle lender brings.”

Bovingdon said the lender had established successful new relationships with housebuilders in East and West Midlands, but there was more it wanted to work with in future.

He noted: “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 two or three 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.”