Enra secures £250m investment in future mortgage originations from J.P. Morgan

Enra Specialist Finance has signed a £250m mortgage forward flow agreement with J.P. Morgan.

The transaction involves the sale of future buy-to-let (BTL) mortgages originated by Enra to the investment banker.

The move is the latest in a series of investments that Enra has secured for its lending business, West One Loans, and the specialist lender suggested the new initiative is focused on supporting the origination of larger BTL mortgage portfolios. The agreement also follows the group’s inaugural residential mortgage-backed securitisation of its BTL and second charge loans, which was announced in November.

Enra has £1bn of assets under management and indicated it will continue to grow its infrastructure as it expands West One’s lending capacity.

“This new relationship with J.P. Morgan is another positive move for the business,” said Enra CEO, Danny Waters. “This collaboration allows us to further develop our West One BTL offering in line with our 2021 objectives and solidifies our position within the market as a large, well-resourced, leading specialist lender.”

J.P. Morgan managing director in securitised products, Eric Wragge, added: “We are pleased to have worked with Enra on this transaction to help scale its footprint in the BTL arena and look forward to watching its continued growth as a specialist lender.”

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