Glenhawk, the established UK short-term real estate lender, has cut monthly rates across its regulated bridging product, for borrowers looking to secure finance against their primary residence, by up to three basis points. The reductions, which position the product as one of the most competitive amongst major UK short-term lenders, have been made in direct response to market feedback and as Glenhawk continues to see high enquiry levels.
Across its entire regulated bridging range, the 75% & 70% LTV product will be available at 0.69% monthly rate (reduced from 0.72%), with the 65%-50% LTV range at 0.61% monthly rate (from 0.64%). These are now the lowest rates ever offered by Glenhawk across its regulated range.
In addition, Glenhawk will also offer second charge bridging loans on its regulated prime product, capped at 70% LTV, which have been introduced to complement first charge loans in chain break scenarios.
Nick Hilton, Director of Lending, Glenhawk, commented: “Despite broader macro volatility, downward trending interest rates have driven improved sentiment, which is underpinning growing appetite from borrowers looking to invest in their primary residence. Our unique funding structure means we are able to be more competitive than nearly all of our competitors, whilst providing borrowers and brokers with the certainty that transactions can be financed to support a critical refurbishment or exit within their required timeframes.”
