UTB appoints head of originations | Mortgage Introducer mortgageintroducer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mortgageintroducer.com Daily Mail and Mail on Sunday newspapers.
Mote was previously head of specialist asset finance at Metro Bank.
He will report directly to Nathan Mollett and will work closely with the sales team supporting the BDMs in securing higher value transactions as well as developing direct relationships with brokers originating in that space.
UTB has ambitious plans to grow its asset finance business and sees increasing its mid-ticket transaction volumes as a key part of the strategy for 2021.
Nathan Mollett, head of asset finance at UTB, said: “We see larger transactions as a key growth area for UTB’s Asset Finance business over the next few years and Jon Mote’s experience in securing and structuring mid-ticket deals will be invaluable as we build our presence and develop our offering in that space.
This week United Trust Bank topped the fixed rate ISA chart overall with its ISA 7 Year Bond paying 1.10% gross on anniversary. This ISA requires a £15,000 minimum deposit to open. Earlier access is permitted but subject to a penalty. Transfers in are accepted. The ISA must be opened by post but can then be managed online, by post and by phone.
Three ISAs paid the top five year fixed ISA rate this week. Gatehouse Bank pays an expected profit rate of 1.00% gross on anniversary on its 5 Year Fixed Term Green Cash ISA, which requires a £1,000 minimum deposit to open. This ISA allows earlier access subject to 365 days’ loss of interest. Transfers in are accepted. The ISA benefits from the incentive of Gatehouse Bank planting a tree in a UK woodland when an account is opened and funded, and the trees are planted in UK woodland projects certified by the UK Government’s Woodland Carbon Code. The ISA can only be opened and managed online. Skipton Building Society pays 1.00% gross
This figure for operating profit is a 35% increase from 2019.
Gross new lending reached £1.3bn in 2020, with the loan book at year end being recorded at £1.6bn.
Operating income reached £79.1m and total assets were recorded at £1.9bn.
The bank welcomed 42 new team members during the year with the majority being recruited and trained remotely.
Harley Kagan
(pictured), chief executive of UTB, said:“2020 was a year like no other and despite the extraordinary challenges presented by the COVID-19 pandemic, United Trust Bank showed its resilience and delivered a strong set of results.
“The bank has continued to invest in business transformation and digitisation projects and introduced many new digital means of interacting with customers and brokers during the year, including the launch of full-service online banking for deposit customers.
United Trust Bank (UTB) has made five appointments to its development finance team.
According to the lender, this is in response to increasing demand for property finance from house builders and developers across England and Wales.
Simon Cartwright, Kerry Cooney, Ashley Collier and Davinder Birthee have joined UTB from other lenders and Anna Wojtowicz has been promoted from her previous role as senior case manager.
They will be working directly with house builders and developers providing bespoke development funding solutions.
Cartwright has over 30 years’ financial services experience having previously worked for Assetz Capital, Handelsbanken, HSBC and RBS.
He has been appointed senior manager of property development and will be primarily supporting clients across the Midlands.