Glenhawk, the specialist property lender launched earlier this year, announces that it originated £9.28 million of loans during November, a record for the business, as demand from a range of property professionals for fast and flexible short-term lending solutions continues to grow.
Guy Harrington, pictured, CEO of Glenhawk, commented “The whole team at Glenhawk has worked tirelessly this year and this record month is a culmination of that hard work. The most important thing for us, respective of where we are in the real estate cycle, has been to remain diligent and prudent in our loan underwriting. We’ve taken our time and, working alongside the best professional partners and brokers in the industry, have made great progress in positioning ourselves as a credible and preferable source of short-term loans.”
• 11 loans completed, with an average size of approximately £823,000
• Loans completed at an average rate of 0.86%
• The loans are located across Greater London, the Home Counties and the South West of England
• Asset types include residential acquisitions, mixed use refurbishments, commercial purchases and refinancing trading commercial premises
Harrington added “Our ethos of treating clients fairly and being transparent with fees and pricing shows that you can make positive change across an industry which in many ways is ripe for reform. I’d like to thank everyone who has joined us this year on the journey and for putting their trust in what we are doing at Glenhawk.”
Since launching in January 2018, Glenhawk’s now 15 strong team has lent over £30 million, across 51 loans, with a focus primarily on residential assets in London and the South East. In September Glenhawk announced it would be paying legal and surveyor fees on behalf of its clients, as part of its stated strategy to set a new standard for the industry.
Paul McFadyen, Managing Director at Glenhawk, commented ”From a standing start in January we have hired fast and recruited some exceptional talent, resulting in a highly motivated team and month-on-month loan book growth. Key for us have been the solid foundations and infrastructure put in place during the year, which will allow us to scale swiftly and responsibly in 2019.”