Enra Specialist Finance secures £250m investment in future mortgage originations from J.P. Morgan
Enra Specialist Finance has announced that it has signed a £250m mortgage forward flow agreement with J.P. Morgan. The transaction involves the sale of future buy-to-let mortgages originated by Enra to J.P. Morgan.
This is the latest in a series of substantial investments Enra has secured for its lending business West One Loans. This new initiative is focused on supporting the origination of larger buy-to-let mortgage portfolios.
The agreement follows hot on the heels of the Group’s inaugural residential mortgage-backed securitisation of its buy-to-let and second charge loans in November 2020.
This deal further demonstrates the business’s commitment to maintaining diversified, stable sources of capital to support lending activity across its range of products, which also includes bridging and development finance.
Enra Specialist Finance has £1bn of assets under management and will continue to grow its infrastructure as it continues the expansion of West One’s lending capacity. Distribution capability is gathering in strength as indicated by West One joining more lender panels including recent deals with Legal & General Mortgage Club and Dynamo.
Danny Waters, CEO of Enra Specialist Finance, said: “This new relationship with J.P. Morgan is another positive move for the business. This collaboration allows us to further develop our West One buy-to-let offering in line with our 2021 objectives and solidifies our position within the market as a large, well-resourced, leading specialist lender.”
Eric Wragge, managing director in Securitised Products at J.P. Morgan, added: “We are pleased to have worked with Enra on this transaction to help scale its footprint in the buy-to-let arena and look forward to watching its continued growth as a specialist lender.”