Glenhawk overhauls bridging loan range

By Bridging Loan Directory 20th February 2024

Glenhawk, the established UK short-term real estate lender, announces that it has overhauled its unregulated and regulated product range, including reducing rates across the board.

The changes have been made in response to client demand, which has been underpinned by the improving macroeconomic backdrop, and ahead of what is set to be a transformational year for the business.

To support its 2024 growth ambitions, Jamie Pritchard has been promoted to Managing Director of Sales.

Alongside overseeing the ongoing product revamp, Jamie will be responsible for the launch of several new products and initiatives planned for the coming months, whilst also ensuring the necessary infrastructure and internal and external processes are in place to maintain the highest standards of client service.

The product changes introduced since the start of 2024 comprise:

Reduced rates across the board, with pricing on unregulated products starting from 0.83%
Launched a mixed residential product (for mixed use assets with more than 50% residential) to complement the existing mixed commercial product
Increased the LTV on its regulated product to 75%, and increased the maximum loan size to £2 million

Removed the exit fee on its heavy refurb product
Reopened for large loans on mixed, residential and multi-unit property valued up to £10 million

Jamie will continue to lead Glenhawk’s growing team of Business Development Managers.

Since joining Glenhawk in 2021 as Director of Sales, he has been instrumental in the Company’s growth, having overseen a 60% increase in the size of the loan book a 53% increase in Glenhawk’s Introducer network.

Jamie Pritchard, Managing Director of Sales, commented:

“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.

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.”

Guy Harrington, CEO of Glenhawk, added:

“This well-deserved promotion comes ahead of what is going to be a massive year for 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.”