Following this, the bridging lender will launch a number of new products with an ambition to build up a £500m portfolio in term and regulated loans over the next three years.

In an exclusive interview with Bridging & Commercial, Guy Harrington, CEO and founder of Glenhawk (pictured above), revealed that it was currently working on an additional senior funding line and would look to launch regulated bridging, BTL term products and retirement interest only (RIO) mortgages.

It will first be able to offer regulated bridging loans once granted the regulatory approval.

Following that, Glenhawk plans to enter the BTL market to offer its clients the opportunity to exit bridging loans onto a three- to five-year product.

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“Ideally, it would be good to put people into the full cycle,” said Guy.

“So, we bring them in for the bridge-to-purchase, we allow them to refurbish the development of the property and then we can flip them onto the term product.”

Guy added that it would like to go into the ROI market, due to the ageing population that needs to release equity in an easier and fairer way.

Glenhawk will form another division for the regulated side of the business, with separate underwriters and a different person heading up the team.

This will also include a raft of hires to run the new division.

Guy felt it was a good thing that the lender was embracing regulation.

“Bridging's great, but it’ll only get us up to a certain loan book size.

“If we want to go even further, then the regulated side is the way to go.”