Glenhawk, the specialist bridging lender, has today (4th June) announced a rate reduction across its entire product range. The majority of its products’ monthly rates have been reduced by 2 or 3 bps, but at certain LTV bands the reduction is as great as 8 bps.
The reduction applies across both regulated and unregulated bridging loans, including refurbishment finance, and is available immediately across all asset classes. As a result, the lender’s unregulated rates now start at 0.68% per month.
The move follows a series of recent enhancements from the lender, including the introduction of a new automated valuation model (AVM) policy, allowing AVM-supported lending up to 75% LTV.
Whilst the changes apply to all products, Glenhawk has noted an increase in case-specific scenarios including developer exit finance, commercial and mixed-use acquisitions, heavy refurbishment projects and time-sensitive transactions.
Josh Knight, Managing Director of Sales and Marketing at Glenhawk, commented:
“We’ve always been keenly priced, but even more so now. This rate reduction is a signal of our intent. With market confidence returning, we are well positioned to help brokers with a broad range of bridging scenarios.”
“Over the next few months, we will be making a series of further improvements to our offering, ensuring brokers continue to have access to competitive pricing alongside the service and certainty they expect from Glenhawk.”
