It has emphasised the importance of internal growth
United Trust Bank (UTB) Mortgages has announced strategic promotions within its leadership team, as the company strengthens its position in the buy-to-let (BTL) market.
Barry Luhmann (pictured left) has been appointed to the newly created role of customer support and strategy director – mortgages, while Dave Burke has been promoted to head of BTL underwriting, succeeding Luhmann.
Luhmann, who joined UTB in 2022, played a key role in the bank’s successful entry into the BTL sector. UTB’s BTL offerings have been praised by brokers, particularly for serving landlords who do not fit into traditional mortgage criteria due to their financial circumstances or the type and location of their rental properties.
BTL mortgage sales at UTB are up 35% year-to-date compared to all of 2023, with applications increasing by 53% during the same period. In his new role, Luhmann will collaborate with director of mortgages, Buster Tolfree, to drive growth and further develop the bank’s mortgage business.
Meanwhile, Dave Burke (pictured right), previously a new lending manager within the mortgages team, will lead the underwriting team and oversee all BTL applications in his new role, ensuring a streamlined and high-quality service for introducers. The bank has not yet announced who will succeed Burke in his previous role.
Commenting on the promotions, Buster Tolfree, director of mortgages at UTB, emphasised the importance of internal growth and recognised the contributions both Luhmann and Burke have made to the company’s BTL success.
“Our move into the BTL mortgage market has been a real success story and Barry has played a key part in that,” said Tolfree. “I’m delighted that he is moving into this newly created role, helping to shape the future of this fast-growing mortgage business. Dave has had a similarly great year and will do an excellent job heading up BTL underwriting. The product continues to go from strength to strength as brokers turn on to our flexible criteria and strong appetite to support landlords.”
Tolfree also hinted at future internal promotions, reflecting UTB’s commitment to developing its team as the BTL division continues to expand.
United Trust Bank is a specialist lender providing a wide range of banking services, with a focus on residential and commercial property financing. The bank has seen rapid growth in its mortgage division, particularly within the BTL sector, as it aims to cater to landlords and property investors across the UK.
Do you have something to say about the recent announcement? Let us know in the comments below.
