Aside from product and criteria updates, it also announces a promotion in its sales line-up
Short-term lender Glenhawk has made significant changes to its unregulated and regulated product offerings.
The adjustments, the lender said, are in response to customer demand and an improving economic environment, setting the stage for what the company anticipates to be a pivotal year.
Key updates to Glenhawk’s product range since the beginning of 2024 include a reduction in rates across all products, with unregulated offerings starting from 0.83%.
The lender has introduced a mixed residential product aimed at assets predominantly used for residential purposes, complementing its mixed commercial product.
Glenhawk has also raised the loan-to-value (LTV) ratio on its regulated products to 75% and increased the maximum loan size to £2 million. It has also removed exit fees on its heavy refurbishment product and resumed offering large loans on various property types, with values up to £10 million.
“Our foot is firmly on the accelerator, and this overhaul of our product range is merely a prelude to what is gearing up to be a game-changing year for the business,” said Jamie Pritchard (pictured), who was recently promoted to the position of managing director of sales at Glenhawk.
“With rates stabilising, more investors are looking to deploy capital and unlock value from the UK’s resilient residential market, and we have reacted quickly, with the changes made having already been incredibly well received.”
Pritchard, who joined Glenhawk in 2021 as director of sales, has played a key role in expanding the company’s loan portfolio and introducer network. He will continue to lead the team of business development managers.
In his new role, Pritchard will oversee the product updates and will be tasked with introducing new products and initiatives in the upcoming months. His responsibilities also include ensuring the company’s infrastructure and processes are optimised to deliver high standard client service.
“This well-deserved promotion comes ahead of what is going to be a massive year for Glenhawk,” said Guy Harrington, chief executive at Glenhawk. “Having doubled our fund capacity, we can accelerate our lending ambitions and continue to innovate in response to client demand, including moving into more niche products and refining our green lending strategy.”
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