The bank said this would enhance its ability to support developers and investors in the increasingly complex property market.
UTB said the nature of real estate lending in the property development and investment sector was changing, as rising costs, tighter margins, planning delays and regulatory demands prompted developers to adopt more flexible approaches to funding.
UTB said access to funding solutions across multiple stages of the property cycle was becoming more important.
The combined divisions will bring together experienced specialist lending teams and an integrated approach to funding, to support the process from acquisition to refinancing.
Adam Bovingdon will lead the real estate finance division as managing director of real estate finance.
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Orla Costello will lead property development across London and the South East, Andy Thomson will cover living sectors and property development, while Liam Lawlor will be responsible for structured property finance and Ben Peters will lead strategic partnerships.
Bovingdon (pictured) said: “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.”
He said bringing the property development and structured property finance divisions would enable the lender to fulfil this aim.
Bovingdon continued: “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 a 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.”
