UTB Bridging was approached by a broker with customers needing a £356,400 regulated bridging loan at 75% loan-to-value (LTV) on a £515,000 auction purchase.
The funding has been provided to Public Housing Ltd and will enable the delivery of 92 en-suite supported living units across the two schemes.
The reductions apply to 2-year fixed-rate products, with new rates starting from 3.89% and available immediately.
The deal was introduced to UTB broker relationship manager Thomas Edwards by Martin Ball, sales director of First Business Finance.
By bringing together the two specialist lending teams, UTB says it will offer a more integrated approach to funding.
The new Near Prime range is available across both regulated and non-regulated bridging.
The completed development has an estimated £49.1m turnkey gross-development-value (GDV), with a potential stabilised value exceeding £65m.
Clohessy joined UTB in July 2025 as director of underwriting – bridging and has 20 years’ banking and real estate finance experience, including senior roles at LendInvest and Shawbrook Bank.
As part of the update, UTB has reintroduced 90% LTV lending across its Super Prime, Prime Plus and Prime ranges for loans between £20,000 and £100,000.
The funding has been provided to Oakwood Group, the North West housebuilding group founded by Jonathon Ball in 2014.
The specialist lender has spent this year building the new system which now integrates with the bank’s existing broker portal for mortgages, buy-to-let (BTL) and second charge loans.
The unregulated bridging loan will help an experienced property investment and development company acquire and refurbish a detached family home.