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, and has worked in business and real estate finance for over a decade, most recently with Avamore Capital and Assetz Capital.
David Masters has been appointed as manager – property development, where he will work closely with UTB’s Simon Cartwright, director – property development.
Adam Bovingdon, head of property development at UTB, said: “In the past 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 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.”
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.
Bovingdon added: “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.”
