A recently repaid bridging loan case from United Trust Bank (UTB) demonstrates why choosing a flexible and supportive lender is vital when things don’t go as planned. And the borrower was so impressed with the service received from UTB Senior Bridging Loan Administrator, Kalpana Shah, they were moved to write a glowing letter of thanks, copied in full at the end of this release.
“…I honestly don’t think the project would have made it over the line without you…”
The story began when UTB agreed to provide a c.£484,000 bridging loan to a professional landlord to enable them to purchase a property with potential to add value with planning gain and redevelopment and which would eventually be added to their Buy-to-Let portfolio.
The original loan was drawn in August 2023 with a 12-month term. Unfortunately, the works schedule was beset with delays from the start and having stripped out the property the main contractor then couldn’t start work until mid-February 2024. More problems ensued including a 4-month delay to the delivery of the windows. UTB subsequently agreed to a 3-month extension to the original term and a loan increase to cover additional costs and interest.
The borrower decided to use the extra time to install a new solar and heat pump system and upgrade the works planned to the kitchen and bathroom. Unfortunately, this also didn’t go to plan with additional pipework required and problems uncovered with the mains water supply. With issues outstanding the borrower was unable to obtain an EPC required by the BTL mortgage lender approached to refinance and exit the bridge. Having been kept well informed of the situation by the borrower and their finance broker, and taking a pragmatic view that works would eventually enable an exit, UTB agreed to a further 4-month extension.
The loan was eventually repaid in March 2025, 7 months after the original 12-month term had expired.
Despite the issues, delays and additional costs, the borrower considered the project a success and was so delighted with UTB’s, and particularly Kalpana Shah’s support and flexibility throughout, they felt compelled to write in…
“Dear Kalpana
I just wanted to say a big thank you for all your help and support with the bridging loan, and especially for sorting out both of the extensions. I honestly don’t think the project would have made it over the line without you. You really went above and beyond, and I truly appreciate it.
The project turned out to be much more complicated than I expected – over budget and well behind schedule, and being my first bridging loan, there were definitely a few lessons learned. But your support throughout made a massive difference. You were always easy to get hold of, whether by phone or email and that gave me a lot of reassurance when things felt uncertain.
In the end, the extra investment helped deliver a stronger result, with a higher valuation and rental figure, and the remortgage went through without any issues. I’ve come away from the experience a lot more informed, and I genuinely don’t think it would’ve gone as smoothly without your help.
I’m planning to take on more projects like this in the future, and I’d really love to work with you and UTB again when the time comes. It makes a huge difference working with someone who’s approachable, efficient, and genuinely supportive.
Thank you again. I really do appreciate everything.”
Harman K – Wolverhampton