Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

UTB Combines Divisions to Launch Real Estate Finance Arm Led by Bovingdon

United Trust Bank (UTB) has merged its property development and structured property solutions divisions to create a new real estate finance division. Adam Bovingdon has been appointed as managing director of the new division.

UTB stated that this move is intended to enhance its support for developers and investors in the property market, which the bank describes as increasingly complex. According to UTB, the real estate lending landscape is changing due to factors such as rising costs, tighter margins, planning delays, and regulatory demands. The bank said these challenges are prompting developers to seek more flexible funding approaches.

The new real estate finance division will bring together specialist lending teams and offer an integrated approach to funding, supporting clients from acquisition through to refinancing. UTB highlighted the growing importance of access to funding solutions across multiple stages of the property cycle.

Adam Bovingdon will lead the division as managing director of real estate finance. Other leadership roles include Orla Costello, who will oversee property development across London and the South East; Andy Thomson, who will cover living sectors and property development; Liam Lawlor, who will be responsible for structured property finance; and Ben Peters, who will lead strategic partnerships.

UTB said the combined teams will provide broader expertise, greater flexibility, and a more seamless experience for customers and broker partners.

This development is relevant to UK letting agents and inventory clerks as it signals changes in the funding landscape for property development and investment, potentially impacting the types and volume of properties entering the rental market.