"This end-to-end solution simplifies the finances for PBSA developers, enabling them to concentrate on delivering successful schemes without the need to switch lenders"
- Adam Bovingdon - United Trust Bank
United Trust Bank (UTB) has expanded its living sector proposition with the launch of new funding solutions designed to support the development of Purpose-Built Student Accommodation (PBSA).
The specialist lender will provide finance to experienced developers delivering projects in established university locations across England and Wales. Funding is available for new-build schemes, conversions, and refurbishments, with committed terms of up to 60 months to cover acquisition, construction, stabilisation, and the investment period.
Key lending features include:
Facilities ranging from £7.5m to £35m
Up to 65% Loan to Gross Development Value (LTGDV)
Up to 85% Loan to Cost (LTC)
Terms of up to 60 months, including a maximum 30-month development phase
Consideration of planning gain and project phasing
Earlier this year, UTB appointed Andy Thomson as Senior Director – Operational Real Estate to lead its expansion in this sector. He has been working with Ben Jenkinson, Head of Product & Strategy, to shape UTB’s broader living sector offering, which already includes Build to Rent and Co-Living finance.
“The UK PBSA sector presents exciting opportunities to developers and for UTB in supporting schemes which will help to address the shortage of good quality student accommodation,” said Adam Bovingdon, Head of Property Development at United Trust Bank.
“We look forward to supporting experienced developers and operators from initial land or building acquisition, through construction, and stabilisation and into a long-term interest-only investment loan. This end-to-end solution simplifies the finances for PBSA developers, enabling them to concentrate on delivering successful schemes without the need to switch lenders. I am confident that our new offering will be warmly received by the market, enabling many high-quality new homes for students over the coming years.”
