Glenhawk has reduced rates across its bridging finance range, with unregulated loans now starting from 0.68% per month.
The specialist bridging lender said the changes, which take effect immediately, apply across its regulated and unregulated bridging products, including refurbishment finance, and across all asset classes.
Most monthly rates have been reduced by two or three basis points, although some loan-to-value bands have seen cuts of up to eight basis points.
The move follows a series of changes at Glenhawk, including the introduction of a new automated valuation model policy, which supports lending up to 75% loan-to-value.
The lender said it had seen an increase in case-specific enquiries, including developer exit finance, commercial and mixed-use acquisitions, heavy refurbishment projects and time-sensitive transactions.
Josh Knight (pictured), managing director of sales and marketing at Glenhawk, says: “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.”
