The development finance division of Hampshire Trust Bank (HTB) saw a record level of completions in June, making it the most successful month for the department.
This follows a peak in credit approvals delivered in April, and HTB’s development finance division is set to double the credit approvals levels seen over the whole of 2022.
In June, the completions facilitated by HTB ranged from £500,000 to £25m, including residential and mixed-use developments, purpose-built student accommodation, land purchases and developer exit loans, secured against a diverse array of assets including land, existing commercial and mixed-use buildings and mixed-use portfolios.
Neil Leitch (pictured, left), managing director of development finance at HTB, said: “We are really proud of this milestone, which could not have been achieved without the team’s exceptional commitment and dedication.
“This is just the beginning – there is much more to come, and we go into the second half of 2024 with confidence, determined to maintain and build on this momentum.”
Uliana Kuzmis (pictured, right), deputy managing director of development finance at HTB, added: “June was a true buzz month. At some point, we had deals completing every day and on occasions, multiple completions in a single day. Yet, our underwriting and quality assurance teams delivered every completion on time like clockwork.
“It makes me very proud to see this incredible growth and to be part of this success story.”
In June, Tim Mycock was hired in the HTB development finance team as development finance lending director for London and South East.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
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