Our customer had an opportunity to purchase an investment property with the intention of carrying out works to it, so as to increase the value prior to selling it. We enabled the customer to purchase the target property by providing a six month loan of circa £215,000 taking a first charge over the target property.…
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United Trust Bank was approached by a broker on behalf of the owners of a large Grade 2 listed house with outbuildings in which his clients both live and work from. The borrowers had a facility from a commercial lender but despite having an unblemished payment record the lender was not prepared to renew the…
An existing customer, who is well advanced on a development of 5 houses in Essex, asked us to fund their next site. The new project is an ex-public house in Kent close to the high speed rail link. Planning consent exists to demolish the pub and build 11 houses with a GDV of £1.55m. Given…
Our customers were in the final stages of a substantial refurbishment of their £3m home when they required a short term loan to complete the final works to their kitchen and bathrooms. Our customers had an existing mortgage of over £800,000 but having satisfied ourselves as to the amount, nature and cost of the outstanding…
Our customers had owned a country estate for more than 30 years. The estate, valued at over £7m, was no longer appropriate for them and they found a more manageable property which suited their lifestyle. They were very keen to secure it in the face of competition but their existing property would require prolonged marketing,…
Our customers had converted a large residential property into five high-quality flats. One flat had been sold by the time the development finance loan term expired. The terms offered by the existing lender for an extension would have penalised the customers if they were unable to sell more flats in the near future. A nine-month…
A businessman, for whom we had previously completed a development loan facility, approached us for a loan on behalf of another of his companies. The purpose was to fund a land purchase in India and provide some short-term working capital. The transaction was time critical. The borrower company owned a property in the United Kingdom…
