Specialist lender Lendco has inked a deal with NatWest for a new £200m bridging warehouse facility.
This partnership aims to further bolster Lendco’s rapidly expanding bridging business and support its trajectory towards becoming a leading player in the UK’s specialist lending sector.
The agreement not only provides Lendco with enhanced scalability but also allows the company to extend its bridging criteria. This expansion in offerings translates into a more extensive range of choices for intermediaries and their clients.
This move comes swiftly on the heels of Lendco’s third public securitisation, which secured cost-effective funding for £305m of its buy-to-let (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 specialty finance at NatWest Markets, added: “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.”
