Glenhawk hires LendInvest underwriter

By Roger Baird on Wednesday 23 January 2019

Alternative Lending

The property lender said its has so far completed over £4m of loans this year.

Glenhawk has added an underwriter to its team as the property lender said it expects to see “accelerated demand” across its markets this year.

The business has appointed Amy Wareham (pictured) as a junior underwriter who will be tasked with structuring complex development and refurbishment deals. Wareham, who joins a 20-strong team, was previously at rival property platform LendInvest.  

Glenhawk chief executive Guy Harrington said: “Amy is another strong addition to the team and will be integral in assisting in the delivery of our customer-centric strategy.”

The firm has got off to a brisk start this year originating £28.4m of potential loans since the start of the year, and completing on just over £4m.

Last year the platform, which has Rightmove founder Harry Hill as a non-executive director, said it completed more than £35m of loans after securing a £75m funding line from Shawbrook Bank and Insight Investment.

Glenhawk provides short-term loans, ranging from £300,000 to £3m, across residential and commercial properties. The business, founded in 2017, focuses on the South of England and the Midlands.

The UK property market started 2019 with the smallest January price rise in seven years, as Brexit uncertainty forced sellers in London and the South to drop prices, dragging down the national average, according to a Rightmove survey this week.

The average national asking price of a new house coming to the market lifted by just 0.4 per cent, or just over £1,200, this month to £298,734, marking the lowest monthly rise at this time of the year since 2012, the report said.

Glenhawk’s Harrington said: “While macro uncertainty continues to be a thorn in the side of the real estate sector, we have both a market leading offering and growing addressable market, meaning we are extremely well placed to build on our 2018 successes.”

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