United Trust Bank has completed a £4.59m short term bridging loan for a high net worth client of SPF.

The loan was secured by way of second charges against a diverse range of security property including shares.

“There was a lot more to completing this loan than the headline suggests,” explained Alan Margolis (pictured), head of bridging at United Trust Bank. “SPF introduced a highly successful businessman to us who required a large facility in order to restructure some existing borrowings.

“The client had complex business and personal affairs which had to be factored in when structuring the facility, including as it did, a second charge over an ex-matrimonial property as well as the fact that two commercial properties which formed part of our security were owned by separate companies. Throw into this mix that we were working to a tight deadline and you had all the ingredients for the kind of challenge United Trust Bank are deservedly earning a reputation for being able to complete.

“Our head of sales, Gerard Morgan Jackson, had particularly noteworthy input, involving co-ordinating with various parties including all the solicitors on the actual day of draw down.”

Andre Bartlett of SPF added: “I was extremely impressed with how Gerard and the team at United Trust Bank approached this case. Their skills and experience were immediately apparent as they set about structuring a solution which would meet my client’s needs within the short time frame required and with the minimum of fuss.

“In my opinion there are a very small number of lenders capable of pulling off a deal of this size and nature and I’m delighted to say that my confidence in UTB was well founded with both the client and I very happy with the outcome.”