Lendco secures £200m funding line from NatWest
Lendco has signed a new bridging warehouse facility with NatWest. The facility will provide the necessary additional funding capacity for its fast growing bridging business and supports the company’s journey to being a major player in the UK specialist lending space.
As well as providing further scale, the facility will allow Lendco to further broaden its bridging loan criteria – offering even more choice for their intermediaries and their clients.
The new facility follows hot on the heels of Lendco’s third public securitisation, which provided cost effective funding for £305m of its BTL portfolio.
Adrian Scragg, Director of Treasury, Capital Markets and ESG at Lendco, said:
“Our evolution continues, and with this new Bridging facility we can offer an end-to-end financial solution to our borrowers.
With so many of our intermediary partners bringing larger and more complex deals to us, the timing was right to create a new product that meets their clients’ ever growing needs.”
Jennifer Wallaert, Managing Director, Head of Speciality Finance at NatWest Markets, commented:
“NatWest is delighted to support Lendco as it broadens its lending offering through this landmark transaction, illustrating NatWest’s focus on supporting UK borrowers, and the wider UK economy, despite current economic challenges.”