Glenhawk seals £200m funding line from NatWest Markets


Glenhawk has agreed a £200m senior funding line with NatWest Markets to augment its regulated and unregulated lending.

The specialist short-term lender says the new line will support its unregulated product range, which will focus on renovation and light development projects, larger loans and commercial property – as well as increasing of its regulated offer.

He adds that the move capitalizes on NatWest’s experience in the high-growth UK bridge sector, which saw applications and completions rebound significantly in the second quarter of this year, as bridge loan books from industry hit a record £6.1 billion, up 22% on the same period. a year ago, according to the latest data from the Association of Short Term Lenders.

The lender says the new facility sits alongside its existing line of funding with US investment bank JP Morgan, and comes after doubling the size of its direct loan portfolio in the past 12 months, which is part of its plan to loan out £1billion a year by 2024.

Jennifer Wallaert, Managing Director of NatWest Markets, said: “This transaction demonstrates NatWest Markets’ expertise and capabilities in UK specialist lending and associated hedging.

Supporting UK businesses and ultimately providing a bespoke innovative financing solution to an underserved part of the market is at the very heart of NatWest Markets’ focused strategy.

Glenhawk Treasurer and Chief Environmental, Social and Governance Officer Daron Kularatnam adds: “The market dislocation we are witnessing due to the current macro volatility provides an attractive window for highly disciplined and well capitalized lenders.

Moreover, the fundamentals underlying residential, commercial and mixed-use real estate remain particularly compelling. »

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