The facility supports the acquisition of the freehold of the building, conversion and construction costs, S106 and CIL liabilities, professional fees, interest and a 4-month VAT...

This latest deal follows the completion of a second charge bridge for a retirement home in Cyprus earlier this month

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

Reductions of up to 176bps have been announced by the lender

The deal faced multiple hurdles, including a 12-month completion period and a developer stepping up from a £1.6m GDV single-unit to a multi-unit scheme.

The launch of the new portal follows the specialist lender recently increasing its maximum residential loan size to £2m and maximum LTV to 95%.

UTB is providing c.£6m of senior debt to fund the development with Iron Bridge providing a further c.£1m of mezzanine finance.

New 2, 3, and 5-year fixes have been added to United Trust Bank's product range as the lender promises to ‘get January jumping’.

United Trust Bank is providing £15m of funding towards the development of 32 luxury apartments in Newquay in Cornwall.

The specialist lender has announced new rate reductions and criteria changes for its Buy-to-Let mortgage range.