Specialist bridging lender, Glenhawk, 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 £750,000 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.
Andrew Townsend, CEO 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.”
