United Trust Bank (UTB) has launched a range of lending solutions to enable developers to build, let and operate purpose-built student accommodation (PBSA).
Finance will be provided to experienced developers and support projects in established university locations across England and Wales.
Loans from £7.5m to £35m are available for new builds, conversions and refurbishments, with committed terms of up to 60 months.
Adam Bovingdon (pictured), head of property development at United Trust Bank, said: “The UK PBSA sector presents exciting opportunities to developers and for UTB in supporting schemes which will help to address the shortage of good quality student accommodation. We look forward to supporting experienced developers and operators from initial land or building acquisition, through construction, and stabilisation and into a long-term interest-only investment loan.
“This end-to-end solution simplifies the finances for PBSA developers, enabling them to concentrate on delivering successful schemes, without the need to switch lenders. I am confident that our new offering will be warmly received by the market, enabling many high quality new homes for students over the coming years.”
