Glenhawk appoints Head of Product
Glenhawk to expand product range in 2021, following recent launch of new regulated bridging product
Glenhawk, the fast-growing UK challenger lender, announces that it has appointed Christie Cook to the newly created role of Head of Product.
This latest senior hire is an important step for the continued growth of the Glenhawk business as it targets the roll out of several new products in 2021, having secured funding lines from J.P. Morgan and Balbec Capital in 2020.
It follows Glenhawk’s best ever month of lending, as the easing of lockdown restrictions and the stamp duty holiday underpinned borrower demand, alongside the launch of a new regulated bridging product.
Christie, who brings over 20 years of real estate lending experience, will be based in London and report directly to CEO Guy Harrington.
She will be responsible for launching new products, whilst also enhancing the existing unregulated commercial and residential and regulated residential product range.
She will work closely with key stakeholders, including Glenhawk’s institutional and intermediary partners, to develop and deliver product propositions, devise strategies and support marketing campaigns to maximise margin and distribution opportunities.
Christie joins Glenhawk from Bank of Ireland, where she spent nine years, including the last five as Head of Product and Pricing.
During this time, she was responsible for a team of 15. Her previous roles included Service Manager at Post Office Financial Services and Offsite Operations Manager at Lehman Brothers.
Glenhawk announced the launch of its first regulated bridging product in October, in response to increasing borrower demand driven by the stamp stamp duty holiday extension and pent up homeowner demand.
It followed the securing of a senior funding line from J.P. Morgan in March, with Balbec Capital agreeing to provide a £25 million mezzanine funding line in December.
With enquiry levels increasing as the latest lockdown restrictions begin to ease, Glenhawk has launched a new regulated product, the key features of which are:
- Interest rate from 0.59% per month
- 70% Loan to Value
- Joint representation
Christie’s appointment further bolsters the senior team at Glenhawk, following the appointment of Jamie Pritchard as Director of Sales in February to oversee its UK expansion, and the promotions of Damani Johnson to Chief Operating Officer and Nick Hilton as Managing Director, which were announced in January.
Guy Harrington, CEO of Glenhawk, commented:
“Having spent the first quarter of this year refining our product proposition, we have exciting plans to expand our offering beyond the bridging space over the next 12 months.
This reflects increasing borrower appetite, underpinned by the more traditional forms of financing unable or unwilling to provide borrowers with the services they require, which has seen enjoy a record month of lending, a fantastic achievement given the current backdrop.
Christie’s success over 20 years speaks for itself, and her understanding of the real estate lending stakeholder landscape will be vital as we look to enhance our existing product offering and accelerate the roll out of new products.
At the same time, her familiarity with institutional style practices will be welcome as we continue to mature as a business.”
Christie Cook added:
“Bucking the trend, Glenhawk has continued on its upward growth trajectory despite the challenges of the last 12 months.
With the support of two global institutions and a favorable market backdrop, I am excited by this opportunity to lead the business in providing borrowers with an increasing range of market leading products.”