The loan was structured at 60% LTV over a 12-month term

The loan enabled UTB's customer to buy a retirement property and consolidate existing debt.

The transaction is the first to be completed between Acre Lane and SPF Private Clients.

Hampshire Trust Bank’s Bridging Finance team has successfully delivered a £3.2m development exit loan to support a high-value residential scheme in York.

Southern Grove is developing the 111-bed, £36m GDV scheme in a joint venture with Falco Group.

The 65% LTGDV facility enables the delivery of 5 high-end units a stone's throw from one of the best beaches in the UK.

The British bank gained regulatory approval in early 2015, and was founded by entrepreneurs Rishi Khosla and Joel Perlman.

The loan was completed in 21 days from credit approval

Due to its size and complexity, the case was presented to the Transactional Credit Committee.

Valuations for the transaction were undertaken by Knight Frank, and legal due diligence was provided by Trowers & Hamlin in London.