It aims to reduce the upfront cost of borrowing for clients
Specialist lender Glenhawk has launched a new free valuation promotion, focused on reducing the upfront cost of borrowing for clients.
The lender said the latest initiative builds on direct feedback from clients and brokers, and will support the delivery of real estate acquisitions and refurbishment schemes against the backdrop of high inflation, which is contributing to rising material, labour and finance costs.
Glenhawk will pay borrower valuation fees up to £2,500 inclusive of VAT on all new unregulated bridging and refurbishment applications up to £3 million in value, received between January 10 and 31, and completing on or before March 31, 2023.
The lender saw strong demand for its short-term lending products in 2022. Last September, it agreed a £200 million senior funding line with NatWest Markets, to support the company’s ambitions to lend £1 billion annually by 2024.
“As borrowers grapple with rising costs, we want to support them and help ease this burden where possible,” Michael Clifford (pictured), commercial director at Glenhawk, said. “Covering the cost of valuations is another example of the client-centric approach that has been at the heart of our proposition since we launched over five years ago, and has underpinned another strong year of lending.
“This initiative will help investors and developers manage their costs by significantly reducing the upfront payments required to arrange a loan with us and should enable a greater number of borrowers to deliver much needed projects across the UK.”
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