The Which? Financial Services operation sent out a note to its key partners today, which has been seen by Mortgage Introducer.
Kent Reliance for Intermediaries, part of specialist mortgage provider and retail savings group OneSavings Bank, was approached by Mortgage Force on behalf of a client seeking refinance of a block of flats and capital raising to repay the existing development finance, totalling almost £13m.
Raine (pictured) who has more than 35 years’ experience in financial services – joins from Swedish bank Handelsbanken, where he helped to develop its business across northern England and Scotland.
The facility, brokered by Kingswood Associates, was provided for a development that consists of 16 spacious luxury apartments and three vacant ground floor commercial units.
United Trust Bank has divisions providing mortgages, bridging finance, development finance, structured finance, asset finance and motor finance. For mortgages It has a limited master broker panel and a select number of strategic packager partners.
The lender’s average monthly loan originations were in line with the second quarter of this year and up 20.5% on the same period last year, while origination LTVs remained conservative at 58.0% and principal losses very low at less than 0.1%.
The company, which specialises in the introduction and facilitation of property investments both in the UK and overseas, now has three offices.
Net loans and advances grew by £448m to £9.4bn between January and March according to the bank’s latest trading update.
The club was launched by Tony Bunting, owner and partner of specialist brokerage Platinum Options.
UTB has chosen Connect for Intermediaries to help it expand its distribution across its specialist mortgage and bridging lines. UTB will lend against many property types and will accept employed, self-employed and pension income.