This follows a series of strategic partnerships arranged with government agencies throughout 2021 in order to help housebuilders and developers gain access to competitive, higher-geared funding.

This includes the launch of a £250m Housing Accelerator Fund as part of its five-year lending alliance with Homes England, designed to support SME housebuilders with development finance at up to 70% LTGDV.

In May last year, the bank also secured a £250m ENABLE Build guarantee via the British Business Bank — the first to be issued under the new programme — which is expected to help with the construction of over 2,700 units of new housing through the provision of more than £500m of funding to housebuilders.

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•   UTB secures ENABLE Build guarantee from British Business Bank
•   UTB and Homes England launch £250m Housing Accelerator Fund

In addition, UTB expanded its property development sales team to 24 members to offer additional support across England and Wales. 

This year, the bank intends to continue its expansion of the division with more locally based property development directors and managers to work with housebuilders and provide a range of finance and developer exit solutions. 

It will also implement technology designed to accelerate and simplify the funding application process for brokers and customers, as well as continue to explore opportunities to develop its offering and establish further strategic alliances.

Adam Bovingdon, head of property development at UTB (pictured above), commented: “Exceeding a £1bn development loan book is an impressive achievement for the team and the bank. 

“We supported more SME housebuilders with more funding in 2021 than we ever have before and our loan commitments now support the delivery of in excess of 6,000 new homes across England and Wales at any one time.

“Our personal approach to development finance, combined with the team’s deep knowledge of the construction industry, has attracted diverse customers building outstanding homes from Cornwall to Cumbria. 

“Our partnerships with Homes England and the British Business Bank have also enabled us to boost lending of higher geared funding to qualifying housebuilders and developers, giving them the flexibility to retain more of their cash to seize and invest in other opportunities. 

“Our aim this year is to further develop our compelling offering and assist the resurgence of the SME housebuilding sector.”