UTB

UTB keeps customer's options open with £12.6m commercial refinance facility




United Trust Bank (UTB) has provided a £12.6m loan for the refinance of a fully let circa 17,000 sq ft commercial building in central London.

UTB was approached by Tom Robinson, director at Bircroft Finance, about the case and issued a structured finance loan at 68% LTV for the client, who previously secured finance from UTB for two other property transactions.

The client aimed to have the flexibility of a mid-term facility with the ability to sell the property in the interim.

UTB manged to deliver a hybrid mid-term facility with the option to sell the property during the term without a penalty in addition to a deposit account linked to the facility to meet shortfalls in the interest cover.

“Experienced and reliable lenders willing to offer structured finance for clients with specific and often complex requirements have become harder to come by in the last year,” said Tom.

“However, UTB continues to excel at delivering quick, flexible and competitive solutions backed with extraordinary customer service.”

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