UTB agrees senior funding for £11.5m west London development during lockdown

United Trust Bank (UTB) is providing the senior funding for an £11.5m development in a desirable West London location providing 30 new apartments over six storeys. The scheme is being constructed by a long established and successful house builder which UTB has been interested in working with for some time.

The borrower and the Bank started discussions just prior to the Covid-19 pandemic and the proposal was progressed and funding offered during lockdown.

The funding structure includes Junior Debt and third party Private Investor equity whilst also accommodating complex overage and CIL agreements. The site also presented challenges in terms of easements with regard to Rights of Light and adjacent Network Rail assets.

50% of the new homes will be available through the Discounted Market Sale Scheme (DMSU), where they are offered at a 20% discount from their open market value to purchasers certified by the Local Authority.


  • Regional House Builder
  • £11.5 million
Loan Type
  • Development Finance
  • West London
  • 67%
Project type
  • New Build providing 30 houses
 Special Features
  • New to bank customer
  • Complex funding structure
  • Site challenges including easements and adjacent to Network Rail assets
  • Proposal underwritten & drawn during Covid-19 lockdown