Gatehouse Bank hits £100m lending milestone and hires trio

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  • 13/12/2018
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Gatehouse Bank hits £100m lending milestone and hires trio
Gatehouse Bank has boosted its home finance operations team by hiring three case managers, after its team completed £100m of lending in a year for the first time.

 

The Shariah-compliant bank has reached the milestone just four years after the team was founded, following significant growth recorded in the last 18 months.

It is on track to close more than 15 deals across the year, having considered opportunities worth more than £1bn in total.

Deals completed by the lender included large buy-to-let residential portfolios, private rental sector schemes, a portfolio of offices across the country, student accommodation and a portfolio of long term and stabilised commercial ground rents.

The team has also been active in establishing relationships with other senior and mezzanine investors to fund larger and higher-levered transactions, with a view to providing whole finance solutions to its clients.

The bank said it planned to further grow the commercial real estate finance book in forthcoming years and believes the sector provides for good risk-adjusted returns given the current macro-economic and political environment.

Gatehouse Bank chief commercial officer Paul Stockwell said: “This is a fantastic milestone for a rapidly growing part of our business. We set out to earn a reputation for a bespoke approach to commercial property finance and we’ll be looking to cement that in 2019.”

 

Appointments

The lender has also appointed Georgina Taylor, Sinead Hendrikse and Tyler Sullivan as case managers, joining from Countrywide, Virgin Money and Connells respectively.

These appointments follow increasing demand, the lender said.

Karen Faulkner, head of home finance operations at Gatehouse Bank, said: “Gatehouse is growing and introducing new products at quite a rate and the experience our new joiners bring will help ensure that applications for finance progress smoothly right through to completion.”

Gatehouse entered the homebuyer market earlier this month with the launch of its first home purchase plan product, an alternative to a conventional mortgage.

In November, the bank also launched a commercial property finance proposition, offering finance of between £500,000 and £2m for businesses and investors.

 

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