New bridging lender Momentus eyes £1bn loan book in next five years

Led by its managing director Dani Spitzer (pictured above), the company offers loans of up to £15m at up to 75% LTV. While Momentus may be just getting started, it has set its sights on big targets for the future.

“I do envisage having a £1bn loan book over the next five-year period,” shared Dani.

His aims for the company include a gradual move into larger loans, ideally providing products that cater for appetites between £5m and £50m. “In that sector, I think there's less competition,” said Dani. “It's not as saturated and competitive as the market for loans up to £5m, so that's really where we want to position ourselves.”

“That said, we remain fully committed to supporting borrowers with loans below £5m. It's an important part of our offering and will continue to be a core element of what we do.’”

In its first year, the business looks to build £250m in originations. The firm plans to achieve this by using the pipeline it has built in its opening weeks, as well as drawing on Dani’s connections and networks established in his previous 11 years in the industry.

“We’ve got a strong network of property professionals, we've got brokers, we've got developers, we work with experienced landlords — so definitely on that alone, we'll get quite good traction,” said Dani.

Having already secured a £100m funding line focused on residential deals, with the flexibility to support semi-commercial projects, Dani and Momentus are eyeing further diversification. Over the next two years, they plan to attract institutional funding lines in a bid to drive down their cost of capital and strengthen their competitive edge.

Currently operating with a six-person team, including Dani, the company is actively recruiting two underwriters, a BDM, and a CFO to support its next phase of growth.

Dani is well aware of the headwinds facing the market. He cited intensifying competition among lenders, which could put downward pressure on pricing and margins.

For Dani, differentiating between good and bad lenders has become ever more difficult in an age where deception has become increasingly sophisticated and prevalent. And while technology has also evolved in its sophistication, he still saw a need for caution.

“Fraud can also be a challenge,” he said. “There is fraud going on in the market, but it’s sometimes very hard to identify it, so we have to be extra cautious on that front.”

Still, Dani remains confident. Backed by years of industry experience and the strong early momentum of Momentus, he believes the company is well positioned to hit its ambitious targets.

“Is it the right moment to do it? The answer is yes. There's still space for bridging lenders. I think it's a growing industry, especially with banks tightening their lending policies [and] becoming slower [and] harder to borrow from.

“I'm looking to build something different, something with an edge… something a bit more unique… it's building something for the future, and not just another bridging lender.”