It launches promo covering legal and valuation fees up to £3,000 for new requests for unregulated products
Short-term property lender Glenhawk has announced a new promotion offering borrowers complimentary legal and valuation fees.
Glenhawk will cover legal and valuation fees up to £3,000, including VAT, for new requests for unregulated products. The offer is valid for all applications submitted by March 27 and applies to loans up to £10 million.
This is the lender’s third promotion in the last 18 months aimed at lowering valuation costs, but it is the first to eliminate upfront fees up to £3,000, including VAT.
Glenhawk recently enhanced its product range, both unregulated and regulated. Changes include reduced rates for unregulated products starting at 0.83%, an increase in the loan-to-value ratio for regulated products to 75%, and an increase in the maximum loan size to £2 million. It also eliminated exit fees for its heavy refurbishment product and introduced a new mixed residential product for assets with over 50% residential use.
“Reducing upfront costs will support residential investors and developers in their transaction journeys, while speeding up housing market transactions and project delivery,” said Guy Harrington (pictured), chief executive of Glenhawk.
“The general feedback from our broker network and their borrower base has been that valuation and legal fees remains a considerable cost, and we will put the interests of our clients first wherever we can in the current macroeconomic environment. We are witnessing a continued recovery in transaction volumes, as demand for competitive financing solutions remains robust.”
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