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ENRA SPECIALIST FINANCE SIGNS A LANDMARK £500M BRIDGING FACILITY WITH J.P. MORGAN

Written by Danny Waters, CEO of Enra Group

Enra Specialist Finance signed a new facility with J.P. Morgan to fund its bridging portfolio. The facility will allow Enra, under the West One brand, to fund up to £750 million of loans alongside other funding sources.

Building on our already well-diversified funding platform, this is the latest in a series of significant advancements made in the past 12 months – launching the inaugural £270m public securitisation last November and £250m forward-flow arrangement agreed in February (also with JP Morgan). This new facility will allow us to add further scale to our short-term lending platform as well as substantially reducing our cost of borrowing.

With annual originations in excess of £1.5bn, we are targeting continued growth through 2021 and 2022 and intend to expand assets under management significantly beyond the current level of £1.2bn. Partnering with global financial institutions to build a large scale, cost effective and robust funding platform is a key enabler of our growth strategy.

Our close relationship with JP Morgan has been developing for some time now, firstly with the forward-flow arrangement and now with this landmark bridging facility. We are pleased that JP Morgan has recognised our status as the pre-eminent lender in the specialist mortgage space. Likewise, we recognise the value of our relationship with JP Morgan as a world leading institution.

We’re really excited to continue to build the relationship further.

 

To find out more about bridging with West One, speak with the team of experts at Brightstar on 01277 508951, or email helpdesk@brightstarhub.co.uk

 

FOR INTERMEDIARIES ONLY