Glenhawk reports record £54m of lending in May

The specialist lender said this was a 47 per cent rise on the lending it completed in April. Business during the month comprised 65 new loans with an average amount of £1.2m, at a split of 80 per cent unregulated loans and 20 per cent regulated.  

The lender launched its unregulated bridging range with a £10m maximum loan size last September, saying at the time that it wanted to cater to an “increasingly underserved part of the market”.

It also agreed a £200m senior funding line with Natwest Markets with a view to increase its lending through its unregulated business.

Glenhawk also said it received 34 per cent more enquiries in May when compared to the previous month. 

The bridging market appears to be booming, as data from the Association of Short Term Lenders (ASTL) showed that lenders in the sector transacted a record £278.8m in loans during the first quarter of the year. 

This represented a 30 per cent rise across the market compared to Q3 2022 and a 68 per cent increase on Q4. 

Guy Harrington (pictured), CEO of Glenhawk, said: “This is another major milestone for the business and the incredibly talented team that we have assembled. For real estate investors and owners who continue to recognise real estate’s historically defensive characteristics, we remain the non-bank lender of choice. 

“Whilst the backdrop requires us to remain highly disciplined in our underwriting, our certainty of funding, increasing breadth of products and depth of broker relationships has seen us buck wider market trends and increase our market share.”