United Trust Bank (UTB) and Iron Bridge Finance are marking a decade of collaboration with the completion of their latest joint development funding deal — a North London project that takes the total number of homes delivered through their partnership to 558, with a combined gross development value exceeding £213 million.

Since joining forces in 2015, the two lenders have co-funded 17 developments across England, with UTB providing over £129 million in senior debt and Iron Bridge supplying £37 million in mezzanine finance.

Their projects span from Cambridgeshire and the Midlands to the South Coast, supporting both residential and mixed-use schemes.

Four additional projects are currently in the pipeline, expected to add a further 212 homes and contribute an extra £90 million to the partnership’s total GDV.

The latest scheme involves the acquisition and redevelopment of a redundant office building in North London. Planning permission has been secured to convert the site into 42 apartments, with potential for a further 18 through an airspace extension.

UTB is providing just over £7 million towards the acquisition, while Iron Bridge is contributing more than £4 million. The completed project is expected to have a GDV of more than £20 million once enhanced planning has been approved.

Adam Bovingdon, head of property development at United Trust Bank, said: “We are delighted to celebrate this fantastic milestone with Iron Bridge Finance. Reaching 558 new homes with a GDV of over £213m financed together is a testament to the strength of our long-standing partnership.

“Since our first meeting with Lance, it was clear that he and the team shared our commitment to supporting ambitious housebuilders and developers. Over the last 10 years, our collaboration has consistently delivered innovative funding solutions that help bring much-needed homes and regeneration projects to life.

“Successful solutions like the one supporting this exciting North London scheme show just what can be achieved when two specialist lenders work together with a common goal – helping to create outstanding places for people to live. We look forward to many more successful years working together.”

Lance Joseph (main picture), chief executive of Iron Bridge Finance, added: “This milestone means a great deal to all at Iron Bridge Finance. From my first conversations with Adam and the team at United Trust Bank, it was clear we shared the same vision – to back ambitious developers with innovative funding solutions and create real places for people to call home.

“Our partnership extends beyond funding, shown in our joint charity work supporting rough sleepers. Over the past 10 years, we’ve built not only a strong professional relationship but lasting friendships, enabling sites that might otherwise never have been delivered.

“With a strong pipeline ahead, supporting developers to create 212 new homes and with a GDV of £90m, we’re excited about what the next chapter with UTB will bring.”