Nick Hilton

Glenhawk completes its first loan in Scotland




Glenhawk has provided a £2m bridging loan on a high value residential property in Scotland, the first time it has funded a borrower in the area.

The six-month term facility was lent to a UK limited company — the trustees of a UK trust — to refinance an existing mortgage from a private bank.

The deal completed in less than six weeks.

Glenhawk received legal advice from Wilson McKendrick for the refinance, while Breechers handled legals for the UK trust.

Nick Hilton, managing director at Glenhawk (pictured above), commented: “Growing our footprint outside of the South East is a strategic priority for Glenhawk in 2021 and, with the infrastructure now in place, we look forward to building on this milestone. 

“Having been introduced to the loan requirement by Malcolm Scanlon, [lending director] at Zion Specialist Finance, with whom we have a long-standing relationship, we were able to take a cross-jurisdictional loan and turn it around in a short space of time, saving the borrower time and hassle and demonstrating the critical role that specialist lenders play in the UK real estate ecosystem.”
 
Malcolm added: “Glenhawk demonstrated its expertise and professionalism right from the outset, agreeing the initial terms in a very short space of time, despite the loan size and location of the asset. 

“The team was very quickly able to get comfortable with the structure required to fund the deal with the UK trust in place, ensuring they used two sets of solicitors to cover the location of the asset and the trust which fell under English law.”

Gelnhawk has enjoyed a strong start to 2021 with total lending to date now totalling over £165m.

The specialist finance lender aims to hit £500m of lending by the end of 2022, after it recently reached the £100m of redemptions milestone.

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