The transaction enabled Cayuga Homes to sell some of the 33 apartments in the development with no early repayment charges, retain the rest, and release some equity.

The facility supports the acquisition of the freehold of the building, conversion and construction costs, S106 and CIL liabilities, professional fees, interest and a 4-month VAT...

This latest deal follows the completion of a second charge bridge for a retirement home in Cyprus earlier this month

The loan enabled UTB's customer to buy a retirement property and consolidate existing debt.

Reductions of up to 176bps have been announced by the lender

The deal faced multiple hurdles, including a 12-month completion period and a developer stepping up from a £1.6m GDV single-unit to a multi-unit scheme.

The launch of the new portal follows the specialist lender recently increasing its maximum residential loan size to £2m and maximum LTV to 95%.

UTB is providing c.£6m of senior debt to fund the development with Iron Bridge providing a further c.£1m of mezzanine finance.

New 2, 3, and 5-year fixes have been added to United Trust Bank's product range as the lender promises to ‘get January jumping’.

United Trust Bank is providing £15m of funding towards the development of 32 luxury apartments in Newquay in Cornwall.