The new facility sits alongside the specialist lender’s existing funding line with JP Morgan and capitalises on NatWest’s experience in the UK bridging sector.

Over the past year, Glenhawk has doubled the size of its live loan book and expects to significantly increase its lending volume with the funding line. 

The capital will support the expansion of its unregulated product range, which will have a bigger focus on refurbishment and light development projects, larger loan sizes, commercial real estate, and an enhanced regulated offering.

Glenhawk was advised on legals by Ashurst and NatWest Markets was advised by Allen & Overy.

“The support of NatWest is a major endorsement of not only what Glenhawk has achieved to date, but also our future strategy, and provides stable funding to support our ambitious lending targets,” said Daron Kularatnam, treasurer and ESG director at Glenhawk (pictured above).

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“Borrowers looking for sophisticated lending solutions that marry speed and flexibility with certainty of funding remain underserved, and NatWest’s support will enable us to accelerate the roll out of new products that meet growing investor demand. 

“We are hugely excited to embark on this new growth phase and thrilled to be welcoming the NatWest team in as additional funding partners.”

Jennifer Wallaert, managing director at NatWest Markets, commented: “NatWest Markets is delighted to work with Glenhawk’s team and support the company in its next phase of growth. 

“This transaction demonstrates NatWest Markets’ expertise and capabilities in the UK specialist lending space and associated hedging. 

“Supporting UK businesses and ultimately providing tailored innovative funding solutions to an underserved part of the market is at the very heart of NatWest Markets purpose-led strategy.” 

According to Glenhawk, an acute shortage of housing stock, a strong labour market, and an ongoing focus on homeownership has resulted in strong demand for Glenhawk’s short-term lending products in 2022 — especially in the residential space.

Consequently, it achieved three consecutive months of record lending in May, June and July and, following its launch in May, experienced a 300% increase in enquiries for its regulated product. 

“The market dislocation we are witnessing as a result of the current macroeconomic volatility provides an attractive window for highly disciplined and well-capitalised lenders,” added Daron. 

“Furthermore, the fundamentals underpinning homeowner, commercial and mixed-use asset real estate remain particularly compelling.”