Glenhawk, the specialist bridging lender, has announced significant improvements to its AVM criteria.
It can now offer free AVMs on single residential properties up to 75% LTV in England, Scotland or Wales. AVMs can be used against more than one property per loan, will use a Hometrack Confidence Score and can be applied to loans up to £1.25 million in London and £750K in other regions.
The criteria enhancement comes as part of an extension and upsizing of an existing £200 million warehouse facility, provided by a long-term relationship bank of Glenhawk. This facility sits alongside Glenhawk’s other institutional warehouse and forward flow partnerships, which have also recently been increased due to continued strong demand for its market-leading bridging products.
Andrew Townsend, Chief Executive Officer at Glenhawk, commented: “We are absolutely delighted to execute this transaction, particularly considering the wider macro uncertainties. We understand the stability and robustness of a lender’s funding lines is of increasing importance to brokers, and this renewal with a major institution underlines the strength of ours. Transacting at speed and with certainty, is also of high importance to our brokers, so this is a fantastic improvement to our criteria. Whilst these enhancements are notable, they only tell part of the story: in addition to AVMs at high leverage, we also offer dual representation and title insurance on all loans, which allows us to move quickly to complete deals.”
