New short-term property finance provider Glenhawk has accumulated a loan pipeline of £30m in just over two months.
Within the last 24 hours, the lender has also completed three loans totalling £5.8m, covering eight properties in London and Oxfordshire, with a blended LTV of 67% and a blended interest rate of 0.8%.
Bridging & Commercial recently visited Glenhawk’s new, larger headquarters in Mayfair following the lender’s decision to upsize within its first two months of trading to accommodate its growing team.
Guy Harrington, CEO at Glenhawk (pictured above) – who has extensive experience as a property developer – attributed the lender’s pipeline growth to its offering.
“But in addition to that, by offering no admin fees, no exit fees and fair interest rates, we’ve been getting some lovely loans completed.
“It’s nice to meet the borrower, hear their story and see how we can help.”
Since its launch in January, Glenhawk has reviewed 160 loan applications valued at £145m and started to build an innovative loan book monitoring software.
“After scouring the market trying to find a solution other than Excel for monitoring our loan book and stress testing the portfolio, we decided to build our own system, which provides a seamless overview of our exposure and quick reports for funders.
“We plan to license the software out when it is built to other bridging lenders, as it really will make their life easier, think of a Google Analytics feel, but for finance.”