It will pay all valuation fees, saving borrowers up to £2,500
Specialist property lender Glenhawk has announced its latest free valuation promotion. aimed at reducing upfront funding costs for borrowers.
The lender will pay borrower valuation fees of up to £2,500, inclusive of VAT, on all new unregulated bridging applications up to £3 million in value, on applications received between June 26 and August 31, 2023.
The promotion, launched in response to market feedback, is Glenhawk’s second free valuation promotion this year, with the first one announced in January.
Glenhawk enjoyed a record month of lending in May, with £54 million of loan completions, representing a 47% increase on the previous record month. Enquiries increased by 34%, reflecting the sector’s historically defensive characteristics.
“Brokers are operating in an incredibly challenging climate,” commented Nick Hilton (pictured), managing director at Glenhawk. “We are confident that this initiative will support our client base, as more developers, investors and homeowners turn to alternative lenders to complete transactions amid the ongoing volatility.
“With costs escalating, it helps to reduce any upfront costs enabling activity across the residential market to continue.”
Last month, Glenhawk was included in the Sunday Times’ Best Places to Work 2023 list. It was also named one of the top mortgage employers for 2022 by Mortgage Introducer.
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