The regulation will allow the bridging lender to offer a range of homeowner loans as part of its growth plans this year.
Glenhawk is aiming to launch its first FCA-regulated product in H1 2020.
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Guy Harrington, CEO at Glenhawk (pictured above), commented: “After a year of extremely strong growth, we now enter 2020 fully authorised by the FCA to provide regulated products.
“This is a significant step forward for Glenhawk as it allows us to build on the success and momentum we have built in the short-term bridging market and start providing loans to a much wider universe of borrowers , while remaining true to our ethos of responsible lending and diligent underwriting.”
The lender has maintained its record of no defaults and no capital losses on its loans.
Glenhawk underwrote 74 loans totalling £59.1m in 2019, which represented a 150% surge on the previous year.
A record Q3 and month (September) saw £24.8m and £12m of loans originated , respectively.
This activity led to a six-fold increase in revenues, with Glenhawk investing in its growth with seven new hires , resulting in a 30% increase in headcount to 20, of which around 40% are women.
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