Short-term real estate lender Glenhawk is offer a promotion to offer borrowers free legal and valuation fees.
The promotion from Glenhawk is available to all applications received by 27 March, with the promotion applying on loans with £10m and the lender covering up to £3,000 including VAT in legal and valuation fees for new unregulated product requests.
The initiative has been launched in direct response to market feedback and aims to lower the upfront costs for borrowers, which shows its “client-centric approach”.
This is the third promotion that the lender has offered in the past 18 months when it comes to lowering valuation charges. However, this is the first time that the company is eliminating upfront costs up to £3,000.
The saving is expected to “benefit property investors, developers and homeowners, who continue to face a challenging financing environment for acquisitions and refurbishment projects”.
Glenhawk launched products, lowered rates and promoted Jamie Pritchard to the role of managing director of sales.
Guy Harrington (pictured), CEO of Glenhawk, commented: “Reducing upfront costs will support residential investors and developers in their transaction journeys, while speeding up housing market transactions and project delivery.
“The general feedback from our broker network and their borrower base has been that valuation and legal fees remain 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.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.