Interbridge Mortgages secures up to £300m Citi warehouse facility to support growth
Interbridge Mortgages has added a new senior warehouse line from Citi as the second charge lender looks to increase capacity amid rising origination volumes.
Interbridge Mortgages has secured a new senior warehouse facility of up to £300m from Citi, strengthening its funding position as the lender continues to grow in the second charge mortgage market.
The new facility was arranged with advice from SpecFin Capital and is intended to sit alongside Interbridge Mortgages’ existing long-standing funding relationship, which the lender said remains a core part of its business.
The additional line is designed to provide greater flexibility as demand increases and to support the firm’s ability to broaden its product capabilities while scaling sustainably.
Jonny Jones, chief executive officer at Interbridge Mortgages, said: “This new funding supports our long-term vision.
“We have worked closely with our existing funding partner to build a robust, trusted business, and adding this new facility from Citi gives us greater optionality. Successful completion of the facility demonstrates the market’s belief in our growth trajectory.”
The expanded funding arrives during a period of strong origination volumes for Interbridge Mortgages, alongside continued growth across the second charge sector more broadly, as borrowers and brokers increasingly consider second charge lending as an alternative to remortgaging.
Jones added: “Brokers and their customers are increasingly realising the benefits of a second charge mortgage, and, with our 4.9 Trustpilot rating, we’re perfectly placed to ensure the customer receives the best possible outcome.”
SpecFin Capital said the transaction reflected an evolution in Interbridge Mortgages’ funding strategy, with the addition of balance sheet funding expected to support longer-term growth ambitions.
Kandarp Rawal, managing director at SpecFin Capital, said: “We are pleased to have advised Interbridge Mortgages on this important strategic milestone.
“The new facility reflects the evolution of their funding strategy to include balance sheet funding, which is expected to create long-term value and enable potential access to public capital markets in the future.
“The strong level of investor engagement in the process highlights the depth and quality of the Interbridge team as a leading originator of second charge mortgages.
“Alongside the Interbridge team, we are very pleased with the outcome and look forward to supporting the platform’s next phase of growth.”
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