Glenhawk has agreed a funding line with investment bank JP Morgan as part of the lender’s ambition to grow its UK loan book to £200m by the end of 2021.
The facility represents the first time JP Morgan has invested in a private securitisation backed by UK bridging loans.
The structure will see Glenhawk’s maximum loan size increase from £3m to £5m. These loans will be used to fund professional, residential and commercial borrowers with short-term lending.
Regulatory approval
Having recently received authorisation from the Financial Conduct Authority, the new capital will also support Glenhawk’s entry into the UK homeowner mortgage market, with its first regulated bridging product planned for H1 this year.
Guy Harrington (pictured), founder and chief executive of Glenhawk, said: “This is a significant milestone for us, a little over two years since we started out.
“The new funds allow us to enhance our existing product range, whilst providing us with the platform to expand into markets where there is an opportunity for us to replicate our success to date, as we look to continue pushing the boundaries with what is possible in the non-bank lending space.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS