United Trust Bank has announced two senior promotions within its property development division as it continues to expand its lending activity following a record-breaking first half of 2025.
Orla Costello has been appointed to the newly created role of deputy head of originations – property development, where she will co-lead the sales team alongside Paul De Croos, head of originations.
Costello (pictured, left) joined UTB in 2014 and has nearly two decades of banking experience. During her tenure, she has built one of the bank’s largest and most diverse development finance portfolios.
The promotion comes as UTB’s development finance commitments surpassed £1.5bn for the first time, with over £1bn in loans drawn to date. The bank has also expanded its proposition to include Build to Rent (BTR) funding, supporting the delivery of purpose-built homes for long-term rental. UTB estimates its current funding pipeline is contributing to the creation of around 4,500 homes.
In her new role, Costello will focus on strengthening intermediary relationships, particularly with commercial finance brokers, and supporting the bank’s growing team of property development relationship directors and managers. Her remit includes bolstering the flow of quality proposals and helping to drive UTB’s long-term lending ambitions across England and Wales.
Ashley Collier has also been promoted, stepping up to the role of associate director – property development. Collier (pictured, right), who joined the bank’s development finance team in 2021, has worked in real estate finance for over 15 years.
She will now manage and grow her own portfolio of clients across Greater London and the South of England, working directly with housebuilders and developers to deliver tailored finance solutions.
Adam Bovingdon, head of property development at United Trust Bank, welcomed the appointments. “Orla has been an outstanding originator for the property development team and I’m delighted that she’s going to be using her considerable skills and knowledge to help the Bank build even stronger relationships with development finance broker partners,” he said.
“What’s more, this new role gives her the opportunity to share her wealth of experience and assist our property development managers and associate directors in building their own successful portfolios and careers in real estate finance.
“Ashley has proven to be a dedicated and high performing member of the team, and she thoroughly deserves her promotion to associate director. I am sure that she will continue to build a successful portfolio of housebuilder and developer clients as well as relationships with broker introducers and help the Bank to achieve its ambitious growth objectives this year and in the future.”
Costello said: “UTB has one of the most knowledgeable development finance teams in the industry and I’m looking forward to working with Paul De Croos to develop our reach with real estate finance brokers and intermediaries and supporting the originations team in delivering their and the Bank’s performance targets.”
