The reductions, which come off the back of Glenhawk increasing the loan to value (LTV) for regulated bridging to 75% and the maximum loan size to £2m, have been made in response to market feedback.

The lender’s regulated bridging deal at 75% LTV will be available at 0.84%, which is down from 0.94%, 65% LTV will be priced from 0.74%, a decrease from 0.9%, and the 50% LTV version comes to 0.71%, a drop from 0.84%.

The range includes features such as indemnity insurance for “speed of completion”, along with short-form valuation reports to “minimise borrower costs”. All loans will be available to properties priced at below market value.

The firm has also cut rates on its residential and development exit loans, which are priced at 0.89% for a 75% LTV deal.

Loans for commercial properties targeting residential conversion are available at 1.03% at 70% LTV.

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Rates for commercial property bridging loans for non-residential use classes have been reduced to 1.01% at 65% LTV.

Jamie Pritchard (pictured), Glenhawk’s managing director of sales, said: “The UK residential market remains in remarkably rude health, which is underpinning strong appetite from borrowers looking to invest in their primary residence.

“We have historically been a first mover when it comes to revamping our product range in response to the macro picture and in order to remain competitive. Our experienced credit and underwriting teams give borrowers and brokers the confidence that transactions can be financed to support a critical refurbishment or exit within their required time frames.”