Glenhawk has today reduced bridge rates across its entire product range.
Most monthly rates have been reduced by 2 or 3 basis points, but on certain LTV bands the reduction can be as much as 8 basis points.
The reduction applies to both regulated and unregulated bridging loans, including renovation finance, and is immediately available 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 improvements from the lender, including the introduction of a new automated valuation model (AVM) policyallowing AVM-backed loans up to 75% LTV.
While the changes apply to all products, Glenhawk has seen an increase in specific scenarios, including developer exit financing, commercial and mixed-use acquisitions, heavy renovation projects and time-sensitive transactions.
Josh Knight, Glenhawk’s general manager of sales and marketing, said: “This rate reduction is a signal of our intentions. As market confidence returns, we are well positioned to help brokers with a wide range of bridging scenarios.
“Over the coming months we will be making a range of further improvements to our offering, ensuring brokers continue to have access to competitive prices in addition to the service and security they expect from Glenhawk.”