Hampshire Trust Bank (HTB) has announced that its development finance division experienced an unprecedented level of completions in June, marking it as the most successful month in the department’s history. This achievement comes on the heels of a peak in credit approvals in April, and the development finance division is on track to double the credit approvals levels observed throughout 2022.
During the month of June, HTB facilitated completions ranging from £500,000 to £25m, encompassing various types of developments such as residential and mixed-use projects, purpose-built student accommodation, land purchases, and developer exit loans. These projects were secured against a diverse array of assets including land, existing commercial and mixed-use buildings, and mixed-use portfolios.
Neil Leitch, the managing director of development finance at HTB, expressed his pride in the department’s milestone achievement and credited the exceptional commitment and dedication of the team for this success. He also noted that this accomplishment is just the beginning, with much more to come as the bank looks towards the second half of 2024 with confidence and determination to maintain and build on its momentum.
Uliana Kuzmis, deputy managing director of development finance at HTB, described June as a ‘buzz month’, with deals completing every day and, on some occasions, multiple completions in a single day. Despite the high volume of transactions, the underwriting and quality assurance teams delivered every completion on time, showcasing a remarkable level of efficiency. Kuzmis expressed her pride in witnessing the department’s incredible growth and being a part of its success story.
In addition to the record-breaking achievements in June, HTB welcomed Tim Mycock to its development finance team as the new development finance lending director for London and the South East. This strategic expansion of the team reflects the bank’s commitment to further strengthening its presence in key regions.
The latest success of HTB’s development finance division is a clear indicator of the bank’s continued growth and expansion within the sector. With a commitment to delivering exceptional financial solutions and a dedicated team driving the department’s progress, HTB is poised to make a significant impact in the development finance market.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS