Westpoint Homes has sealed a £3.2m loan from Secure Trust Bank (STB) Real Estate Finance to refinance 12 apartments and four townhouses across two residential developments in Scotland.

The residential investment loan will be used to fund the Glasgow-based housebuilder’s premium Circle Green and The Point complexes for the next five years.

The Point comprises 24 two-bed and three three-bed flats in Corstorphine, five miles west of Edinburgh city centre and ten minutes from the city’s airport.

Circle Green is formed of ten four-bed townhouses in Newlands, a popular suburb located four miles from Glasgow city centre.

Ian Rigby, Managing Director at Westpoint Homes, said: “From the start, we were seeking a lender that we could build a strong professional relationship with. As soon as Secure Trust Bank came into the picture, we were able to do exactly that. The team’s attention to detail and hard work throughout the entire process ensured the deal was executed without any significant challenges.”

The deal, which marks the first completed between the two parties, was led by Mike Feasey, Relationship Director at STB Real Estate Finance. Having established a strong relationship with a respected developer, it also underlines the bank’s ongoing efforts to drive growth through development finance.

It was brokered by Jamie Davidson at Kilberry Advisory. The broker has facilitated several STB deals in recent years, the most recent one being a £2m loan to refinance a block of 15 flats in Edinburgh.

Mike said: “It was a real pleasure to work with Jamie again, and Westpoint Homes for the first time. As a relationship-led bank, it was crucial that we put together a facility perfectly tailored to the client’s requirements.

“It was very easy to build an instant rapport with Ian and the team, and the deal crossed the finishing line with relative ease. I look forward to working with them in the years to come and would love to support them with future schemes be that investment or development.”

Additional parties that supported the deal include solicitors Clyde & Co, valuers JLL and the bank’s Relationship Support Specialist, Gerry Dempsey.