Specialist Lending

United Trust Bank expands development finance division

Rozi Jones
|
29th July 2020
Hardeep Thandi UTB
"The Covid-19 pandemic has changed the UK’s economic landscape, but housing remains a key issue with hundreds of thousands of new homes needed each year to meet existing demand."

United Trust Bank has further expanded its development finance division with the appointment of a new director and manager.

Hardeep Thandi joins UTB from Aldermore as director of property development and brings with him over 14 years of property development, commercial and corporate banking experience. He is based in Leeds and will predominantly be responsible for promoting UTB’s development finance offering amongst SME house builders, developers, property investors and specialist introducers across the Midlands, Yorkshire, Humber and the North East. Hardeep will work closely with Huw Jenkins, who is based in the North West, and between them they will cover the North of England.

Martin Nield joins UTB as a manager and will be based in London supporting senior managers Phil Bird and Rob Syrett in servicing their existing client base and growing their development finance portfolio. Martin entered the finance industry by joining the NACFB apprenticeship scheme following completion of his Master’s degree. He gained experience in both lender and broker roles in the asset finance sector before moving into property finance with Secure Trust Bank.

Adam Bovingdon, senior property development director at United Trust Bank, commented: “UTB are committed to supporting SME developers around the country through whatever challenges the pandemic and the economy may throw at us. 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. 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 house builders 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 house builders and developers. The Covid-19 pandemic has changed the UK’s economic landscape, but housing remains a key issue with hundreds of thousands of new homes needed each year to meet existing demand. SME house builders 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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