Momenta Finance announces the launch of a more competitive Bridging & Refurbishment Loan product with the support of a new funding line from HSBC Bank Plc (“HSBC”), unlocking additional funding capacity for Momenta Finance of up to £100 million. The product enables Momenta Finance to write deals of up to £5 million with terms up to 24 months. The product is dedicated to fuelling new originations across the UK, bolstering Momenta Finance’s commitment to supporting clients in the dynamic UK property market.
Momenta Finance Secures £100M Funding Line from HSBC
Momenta Finance Secures a New Funding Line from HSBC to Fuel Growth in its Lending in the UK Property Market
Luke Jooste, CEO of Momenta Finance and former head of Property Finance at Barclays Business, who now leads the seasoned property team at Momenta Finance, shared his perspective on this milestone: “Launching a product of this nature, and securing this funding line from HSBC, in such turbulent times is a testament to our strong belief in the potential of the UK property market. Our revamped Bridging Loan product is designed to meet the diverse needs of borrowers, providing flexible and competitive financing options for refurbishments, equity releases, development exits, and property purchases across the UK, including Scotland, Wales and Northern Ireland.”
In light of the current market challenges, this achievement signals a robust vote of confidence in the UK property market and Momenta Finance’s resilience. The product, and requisite funding, is a critical step in expanding the company’s existing offering and underscores its role as a highly credible and dependable financier in the property sector.
Jake Trehaeven, a key member of the Capital Markets team at Momenta Finance, expressed his perspective on market trends: “With the anticipated easing of central bank rates, Momenta Finance has positioned itself to play a key role in facilitating an increase in activity across the UK residential property market.”
Key features of our revamped Bridging Loan product:
- Loan amounts: range from £200,000 to £5 million, with durations extending up to 24 months.
- Designed for a variety of needs: refurbishments, equity releases, development exits, and acquisitions.
- Interest: variable interest rates linked to the SONIA rate. Interest can be rolled up or serviced throughout the loan term.
- Benefits: No early repayment fees for added client flexibility.
- Security: on a 1st charge basis.
- Leverage: up to 75% LTV / LtGDV (Gross).
About Momenta Finance
Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta offers a panorama of lending options, including unsecured and secured business finance, bridging and cash advances. The company’s commitment to transparency, tailored and credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.
