Hardeep Thandi

UTB expands development team with new director and manager

United Trust Bank has bolstered its development finance division with the appointment of a new director and manager.

Hardeep Thandi (pictured above) joins UTB from Aldermore as director of property development, while Martin Nield has been recruited as a manager. 

Hardeep has over 14 years of property development, commercial and corporate banking experience. 

Based in Leeds, he will mainly be responsible for promoting the bank’s development finance offering among SME housebuilders, developers, property investors and specialist introducers across the Midlands, Yorkshire, Humber and the North East. 

He will work closely with Huw Jenkins who is based in the North West and, between them, they will cover the north of England.

Martin Nield
Martin Nield, manager in UTB’s development finance division

Martin — who held roles in the asset finance sector for both lenders and brokers, before moving into property finance with Secure Trust Bank — will be based in London supporting senior managers Phil Bird and Rob Syrett in servicing its existing client base and growing the development finance portfolio. 

“With Hardeep and Martin joining the team, we have strengthened our presence in the north of England and London, where we see considerable potential for further growth,” said Adam Bovingdon, senior director of property development at United Trust Bank.

“By increasing our customer and broker support around the country and building greater awareness of UTB and our development finance offering, we aim to make the bank a first pick for SME housebuilders and developers looking for competitive products and the backing of a reliable, knowledgeable and supportive finance partner.

“Hardeep and Martin bring experience and enthusiasm to the team and they share our commitment to supporting SME housebuilders and developers.”

Adam explained that while the Covid-19 pandemic had changed the UK’s economic landscape, the demand for housing remained a key issue. 

“SME housebuilders can have a significant part to play in the delivery of those new homes and we are keen to provide the funding to enable them to seize opportunities and keep building.” 

In June, UTB was approved for accreditation by the British Business Bank as a lender for the Coronavirus Business Interruption Loan Scheme (CBILS).

The bank’s CBILS offering is specifically designed for SME housebuilders, developers and investors whose business have been affected by the pandemic.

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