UK lender Glenhawk has announced the appointment of Joan Drummond from Mars Capital to the newly created role of head of collections.
With over 20 years of experience in loan servicing, she will head the loan servicing and collections team. Drummond previously managed operational teams at Mars Capital and CHL Mortgages, where she dealt with a wide range of loan books across the residential, buy-to-let and commercial sectors, encompassing all aspects of both primary and specialist servicing including recoveries and asset management.
Glenhawk has generated new loan enquiries totalling £191 mln since the UK government imposed lockdown in March, increasing the size of the loan book by 20%. During the same period, it has experienced no defaults, whilst also redeeming up to £12 mln of loans.
‘The past three months have been unprecedented,’ said Guy Harrington, founder and CEO of Glenhawk. ‘But despite these challenges, we have seen a consistent level of borrower enquiries.’
This has been exacerbated by both the unwillingness of the high street banks and debt funds to lend and wider market pressure to increase pricing and reduce LTVs, added Harrington. ‘Whilst remaining committed to responsible and diligent lending, we have continued to grow the loan book and with the backing of JP Morgan, we remain on track to grow our UK loan book to £200 mln by the end of 2021.’
