UTB Structured Property Finance Launches 75% LTV Lending on Commercial & Mixed-Use Property
United Trust Bank (UTB) has begun offering up to 75 per cent LTV on Commercial/Mixed lending supported by the Recovery Loan Scheme (RLS).
Facilities of up to £10m are available via the Bank’s Structured Property Finance division for qualifying borrowers on Commercial Bridging or Commercial Investment loans.
More details and information on how to apply for RLS facilities can be found on UTB’s website.
The facilities, offered in partnership with HM Government working through British Business Bank, can be used by businesses adversely impacted by Covid-19 for any purpose, including business investment and working capital. The scheme aims to improve the loan terms on offer to businesses able to afford more debt and can be issued to borrowers who already have CBILS, CLBILS or BBLS facilities in place.
The Recovery Loan Scheme will run until the 31st December 2021, subject to review.
Gerard Morgan Jackson, head of structured finance at United Trust Bank, said: “The UK property market remains buoyant and property developers and investors are continuing to seek funding to take advantage of potential opportunities as we emerge from the Covid-19 pandemic. At UTB we understand the challenges these businesses face and what support they need to make their plans happen. We are keen to hear from property developers and investors looking to build a long term relationship with a specialist lender who has the appetite and ability to help their business recover and grow.”