Specialist lender Lendco, which caters exclusively to intermediaries, has entered into a bridging warehouse agreement with Natwest. This move will enable Lendco to expand and diversify its bridging criteria.

The company states that this facility will provide the necessary extra funding capacity for its rapidly expanding bridging business, aiding its ambition to become a significant force in the specialist lending sector.

Lendco further noted that this funding will enable it to expand its bridging criteria, providing more options for its intermediaries and clients.

Recently, Lendco set the price for its third securitisation, which provided funding for £305m of its buy-to-let portfolio.

Like many of its peers, Lendco temporarily withdrew products but has since reintroduced its buy-to-let range with two and five-year fixed rates.

Adrian Scragg, Lendco’s director of treasury, capital markets and ESG, commented: “Our evolution continues, and with this new bridging facility, we can provide a comprehensive financial solution to our borrowers. Given the increasing size and complexity of the deals our intermediary partners are bringing to us, the timing was right to introduce a new product that caters to their clients’ growing needs.”

Jennifer Wallaert, managing director and head of speciality finance at Natwest Markets, expressed her delight at supporting Lendco as it expands its lending services through this significant transaction. She highlighted Natwest’s commitment to supporting UK borrowers and the broader UK economy, despite the current economic challenges.