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Latest News, Press Releases | Mike Kawczynski

Enra Specialist Finance signs £500m Bridging Facility with J.P. Morgan

Enra Specialist Finance (“Enra”), one of the UK’s largest non-bank lenders has announced today (12th August 2021) that it has signed a new facility with J.P. Morgan to fund its bridging portfolio. The facility will allow Enra, under its West One brand, to fund up to £750m of loans alongside its other funding sources.

Building on its already well-diversified funding platform, this is the latest in a series of significant advancements Enra has made in the past 12 months – launching its inaugural £270m public securitisation last November and £250m forward-flow arrangement agreed in February (also with J.P. Morgan). The new facility allows Enra to add further scale to its short-term lending platform as well as substantially reduce its cost of borrowing.

With annual originations in excess of £1.5bn, Enra is targeting continued growth through 2021 and 2022 and intends to expand assets under management significantly beyond its current £1.2bn. Partnering with global financial institutions to build a large scale, cost-effective and robust funding platform is a key enabler of Enra’s growth strategy.

Danny Waters, CEO of Enra, said: “We’ve worked with J.P. Morgan for some time now, firstly with the forward-flow arrangement and now with this landmark bridging facility. We’re really excited about the scale this transaction will give us.”

Ben Peletier, Managing Director in Securitised Products at J.P. Morgan, added: “This transaction is a clear indication of the scale of Enra’s ambitious plans for growth. We are pleased to be broadening our relationship with Enra and we are very supportive of their plans for further expansion in the specialist lending sector”

ENRA were also supported on the transaction with advice from EY Financial Services Corporate Finance team, led by Stuart Mogg on this transaction.

< A healthy outlook for the second charge sector.West One Bridging business performance up by a third on last year >

Our Companies

Since we first entered the specialist loans market back in 2002, we’ve built, acquired and grown businesses to become one of Europe’s fastest-growing property finance and specialist lending groups, as recognised by the FT1000.

Lending:

West One

Market Leading Specialist Finance

West One is a multi-product specialist lender acquired by Enra in 2014. As one of the UK's leading specialist lenders, West One is renowned for offering one of the most comprehensive and competitive lending portfolios in the UK. The award winning team have a wealth of experience and are committed to solving even the most complex cases.

Services Include:

  • Bridging Loans
  • Buy-to-Let Mortgages
  • Development Finance
  • Second Charge Mortgages
West One

Broking:

Vantage Finance

Your expert master broker

Acquired by Enra in 2018, Vantage Finance is an industry-leading master broker with a focus on providing first-class service. The team's in-depth knowledge of the property finance markets combined with their wealth of industry connections has earned Vantage the reputation for finding simple solutions for complex financial problems.

Services include:

  • Bridging Finance
  • Complex Buy-to-Let
  • Second Charge Mortgages
  • Development Finance
  • Commercial Mortgages
  • First Charge Mortgages
Vantage Finance
Enterprise Finance

Specialist property finance that delivers

Established in 2002 and the founding brand within Enra, Enterprise Finance are an experienced specialist finance distributor with an industry reputation for delivering fast and effective results for their clients. The team are dedicated to cutting out the complexity of complex cases and connecting intermediaries and their clients to the most competitive solutions on the market.

Services include

  • Bridging Finance
  • Second Charge Mortgages
  • Development Finance
  • Complex Buy-to-Let mortgages
  • Commercial Mortgages
Enterprise Finance