Glenhawk reports record lending in Q3
Glenhawk, the property finance lender, has reported originating £24.6m loans in Q3 2019 which its strongest quarter since launch.
These figures are a year-on-year increase of £21.3m for the lender.
This comes after the ASTL reported that bridging loan books grew to £4.62bn in Q2, which is a quarterly increase of 11.7% and an annual increase of 14.4%.
Guy Harrington (pictured), chief executive of Glenhawk, said: “The scale of our growth and being on track to lend over £100m within two years of launching is a phenomenal achievement, all the more so given the unprecedented economic and political backdrop.
“We have an exceptionally talented Glenhawk team that helped us in delivering our record Q3 figure, and we expect this momentum to continue into Q4.
“The strong demand we are seeing for short-term bridging products reflects both the increasing acceptance of the role that non-bank finance can play in the real estate ecosystem, as well as the opportunities for borrowers in this low price, low rate environment.
“We continue to explore new opportunities to replicate our success to date in other sectors, whilst remaining committed to responsible and diligent underwriting.”
Glenhawk is on track to deliver on its target of £100m of new lending by the end of 2019.