Broker Award – David Parkinson – Refinance

UTB were delighted to present independent asset finance broker David Parkinson with a 2024 Broker Award for Refinance.

David set up Parkinson Business Finance in 1998 to provide SMEs with truly independent advice and choice in asset finance. He has established a successful brokerage service built on a deep and detailed understanding of the different financial products and services available to businesses.

Over the years David has established a strong relationship with UTB through BDM Gordon McArthur and the Bank considers David to have shown consistent excellence in his knowledge and application of refinance in helping his clients to achieve their goals. UTB are always keen to help customers release equity in a wide variety of assets. Our flexible criteria, no maximum asset age policy and skilled, approachable underwriters make us a great choice for brokers looking to help businesses and individuals release capital tied up in their unencumbered or partially encumbered assets.

One of David’s recent cases demonstrated both David’s skill and the Bank’s flexibility in finding a successful solution to an unusual request.

David’s client wished to borrow £750,000 towards the purchase of a £2m racing car. As UTB only lend on road legal vehicles, we had to find another way of securing the finance the customer needed. Unsurprisingly, they had several other desirable assets in their collection which were road legal, and we agreed that we would refinance some of those vehicles to raise the funds required. We approved the credit and subsequently carried out the asset inspection, taking security over two Lamborghini Aventadors, a Mercedes G500 and a motorhome, enabling the customer to complete their purchase.

Astrid Michael, Head of Sales – Asset Finance, from United Trust Bank said: “David is an excellent broker who is totally focused on delivering a great service to his customers. This was just one example of a refinance case where we worked with David to find a great solution which suited everyone.”