Glenhawk has reduced rates across its regulated bridging product by up to 16 basis points.
Across its complete regulated bridging range, the 75% LTV product will be available at 0.84% rate (reduced from 0.94%), 65% LTV at 0.74% rate (from 0.90%), and the 50% LTV at 0.71% rate (from 0.84%).
The range includes features such as title indemnity insurance for speed of completion and short-form valuation reports to minimise borrower costs. All loans will be available to properties priced at below market value.
Glenhawk has also cut rates on its residential and development exit loans, which are now priced at 0.89% for a 75% LTV product. This was previously priced at 0.99%. Additionally, loans for commercial properties targeting residential conversion are now available at 1.03% at a 70% LTV, previously 1.15% at a 65% LTV. Rates for commercial property bridging loans for non-residential use classes has been cut to 1.01% from 1.15% , at a 65% LTV.
Jamie Pritchard, Glenhawk’s managing director of sales, said: “The UK residential market remains in remarkably rude health, which is underpinning strong appetite from borrowers looking to invest in their primary residence.
“We have historically been a first mover when it comes to revamping our product range in response to the macro picture and in order to remain competitive.
“Our experienced credit and underwriting teams give borrowers and brokers the confidence that transactions can be financed to support a critical refurbishment or exit within their required timeframes.”