UTB lends £22m to Kent housing developer

Housebuilding

Source: Shutterstock/Gordon Ball LRPS

United Trust Bank (UTB) has funded the first phase of a new development in Chestfield, developed by Kent housebuilding group Kitewood.

The specialist bank is providing a £22m loan facility on a peak debt funding arrangement for the first phase of the scheme comprising 98 new, two-to-five-bedroom homes with a combined gross development value of around £42m.

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