United Trust Bank (UTB) has announced a major restructuring of its lending operations alongside the departure of senior executive Sundeep Patel (main picture).

The specialist lender is merging its mortgages, buy-to-let (BTL) and bridging teams into a single division to drive growth, enhance efficiency and strengthen broker relationships.

The new division will be led by Buster Tolfree, who has been with the Bank for 11 years and currently heads its mortgage business.

Further senior appointments to the new division are expected to be confirmed in due course.

The shake-up comes as Patel, who has overseen UTB’s bridging operations since joining the bank in 2022, prepares to leave to pursue new opportunities.

Patel has been a visible figure in the specialist lending market and played a key role in expanding the Bank’s presence in bridging finance during a period of significant growth.

CROSSOVER OPPORTUNITIES

UTB said the combined mortgages, BTL and bridging division will allow the Bank to capitalise on crossover opportunities between products, particularly bridging loans that transition into BTL mortgages.

The move also aligns with the Bank’s continuing investment in digital solutions, with a single broker portal for mortgage, BTL and bridging applications set to be launched.

Mark Stokes, chief commercial officer at United Trust Bank, said: “This is an exciting evolution of UTB’s offering and service proposition to mortgage and bridging intermediaries which will deliver significant benefits to brokers and customers and drive future growth.

“We will continue to compete at the highest levels on service and price and ensure our business is scaled to meet growing demand and underlines why United Trust Bank is an award-winning bank.”