The property development division of United Trust Bank (UTB) has announced the promotion of David Masters to the newly created role of associate director for intermediaries.

Masters joined UTB in 2022 as a manager in the property development division, working with housebuilders and introducers across the Midlands to support them with development finance needs.

He has been in the real estate finance sector since 2017, having worked with Hampshire Trust Bank (HTB) and Oblix Capital. 

Masters’ promotion is part of UTB’s strategy to expand its support to brokers and firms in the real estate development and investment sector. 

This includes growth across its offering in the living sector and an increasing portfolio of housebuilders and developers. 

Masters will be focused on creating and strengthening relationships with commercial finance brokers and intermediary networks advising developers and property investor clients across England and Wales. 

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He will work with the property development relationship team and seek opportunities for expansion. 

 

Supporting housebuilders and developers 

Masters (pictured) said: “I am excited to take on this new position in the property development team and look forward to working closely with experienced real estate finance introducers. These professionals do more than secure appropriate and competitive development finance.

“They help build strong, lasting relationships between lenders and clients. Such partnerships are essential to driving long-term success and helping deliver the new homes this country needs.” 

Adam Bovingdon, head of property development at UTB, added: “David brings a great deal of knowledge and enthusiasm to this new role and will do an excellent job of developing our important relationships with real estate finance intermediaries and debt advisory firms.

“UTB continues to demonstrate its support of SME housebuilders with a strong appetite to support experienced developers and investors across build to sell and build to rent sectors. We are aiming to maintain our momentum, continue to develop our proposition and service and use the huge amount of expertise within the property development team to ensure our customers thrive and grow, whatever the economy and market have in store.” 

UTB delivered record originations over the first half of this year and increased development finance loan commitments beyond £1.5bn for the first time. 

It also widened its development finance offering to include build to rent, and predicts that its funding will support the creation of around 4,500 new homes at any one time.