This is Universal’s first venture into the sector.
The Society has experienced record residential lending levels over the last year and this move into the commercial property arena is a key indicator of its growth potential.
Having engaged in commercial lending on an ad hoc basis in the past, this new department will focus on providing a dedicated and market-leading service.
Due to the society’s structure, it can maintain short channels of communication and provide customers with a quick response on lending decisions – something that is often a priority for borrowers.
Heading up the new department will be new Assistant General Manager, Sally Peverley, who has a track record in commercial lending.
Sally said: “The launch of a commercial lending service is a great opportunity for Universal and this new venture will offer customers a wider range of services, all with Universal’s trademark excellent customer service and products.
“It will launch the Society as a strong player on the North East commercial finance map.”
Kevin Robinson, Universal’s Chief Executive, added: “The launch of commercial lending will run in parallel to other activities at our ten branches across the North East and Cumbria.
“In addition to offering a wide range of products, including mortgages, loans, savings, insurance and life assurance, we will also be continuing our support of the local communities we serve.”
