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Glenhawk enters regulated bridging following JP Morgan funding

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  • 27/10/2020
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Glenhawk enters regulated bridging following JP Morgan funding
Glenhawk has launched its first regulated bridging product.

 

The lender is offering deals at up to 65 per cent loan to value (LTV) on loans between £100,000 and £1.5m.

The term length is 12 months with an interest rate from 0.55 per cent a month, and there are no admin or exit fees for the deal.

The lender has formed a dedicated team focused on the new product, headed up by its director of lending, Nick Hilton.

The launch follows Glenhawk securing funding from JP Morgan earlier this year, with more new products set to follow.

Guy Harrington, chief executive of Glenhawk, (pictured) said: “Having experienced an exponential growth in enquires for a regulated product, this launch is the culmination of nearly 18 months of hard work, which started with FCA regulation, and is a significant milestone for the business.

“The UK homeowner loan market has been one of the more resilient since the outbreak of Covid-19, underpinned by government stimulus and changing consumer trends.

“It is also hugely underserved and we are confident our market differentiating ethos of fairness and transparency will be particularly appealing.”

Harrington added the lender expected strong demand and would be launching other products in the future.

Hilton added: “The regulated bridging market is ripe for disruption and we believe we have the team in place to replicate the success we have enjoyed in the unregulated space, while remaining highly disciplined in our underwriting processes.”

 

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