Interbridge Mortgages has secured a new senior warehouse facility of up to £300m from Citi, strengthening its funding position and providing additional flexibility as the business continues to scale.
The new facility builds on Interbridge Mortgages’ existing funding arrangements and is intended to support continued growth in lending volumes, while broadening the lender’s ability to respond to increasing demand in the second charge mortgage market.
Interbridge Mortgages was advised by SpecFin Capital on the transaction. The additional funding line sits alongside the lender’s long-standing funding relationship, which remains central to its funding strategy, and is designed to enhance overall balance sheet flexibility.
Jonny Jones (pictured), chief executive at Interbridge Mortgages, said: “This new funding supports our long-term vision. We have worked closely with our existing funding partner to build a robust, trusted business, and adding this new facility from Citi gives us greater optionality.
“Successful completion of the facility demonstrates the market’s belief in our growth trajectory.”
The additional capacity comes at a time when Interbridge Mortgages is reporting record origination volumes, reflecting wider growth across the second charge market as brokers and borrowers increasingly turn to the product as a flexible alternative to remortgaging.
Jones added: “Brokers and their customers are increasingly realising the benefits of a second charge mortgage, and, with our 4.9 Trustpilot rating, we’re perfectly placed to ensure the customer receives the best possible outcome.”
Kandarp Rawal, managing director at SpecFin Capital, said: “We are pleased to have advised Interbridge Mortgages on this important strategic milestone.
“The new facility reflects the evolution of their funding strategy to include balance sheet funding, which is expected to create long-term value and enable potential access to public capital markets in the future.
“The strong level of investor engagement in the process highlights the depth and quality of the Interbridge team as a leading originator of second charge mortgages.
“Alongside the Interbridge team, we are very pleased with the outcome and look forward to supporting the platform’s next phase of growth.”
