Momenta Finance secures new funding line from HSBC

By Bridging Loan Directory 27th February 2024

Momenta Finance, formerly Merchant Money, has announced the launch of a more competitive bridging & refurbishment loan product with the support of a new funding line from HSBC Bank Plc (“HSBC”), unlocking additional funding capacity for Momenta Finance of up to £100m.

The product enables Momenta Finance to write deals of up to £5 million with terms up to 24 months.

The product is dedicated to fuelling new originations across the UK, bolstering Momenta Finance’s commitment to supporting clients in the dynamic UK property market.

Luke Jooste, CEO, Momenta Finance said:

“Launching a product of this nature, and securing this funding line from HSBC, in such turbulent times is a testament to our strong belief in the potential of the UK property market.

Our revamped bridging loan product is designed to meet the diverse needs of borrowers, providing flexible and competitive financing options for refurbishments, equity releases, development exits, and property purchases across the UK, including Scotland, Wales and Northern Ireland.”

In light of the current market challenges, this achievement signals a robust vote of confidence in the UK property market and Momenta Finance’s resilience.

The product, and requisite funding, is a critical step in expanding the company’s existing offering and underscores its role as a highly credible and dependable financier in the property sector.

Jake Trehaeven, a key member of the Capital Markets team at Momenta Finance, added:

“With the anticipated easing of central bank rates, Momenta Finance has positioned itself to play a key role in facilitating an increase in activity across the UK residential property market.”