"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"
- Andrew Townsend - Glenhawk
Specialist bridging lender Glenhawk has expanded its AVM criteria, making free automated valuations available on single residential properties up to 75% LTV across England, Scotland, and Wales.
The updated criteria allow AVMs to be used against more than one property per loan, use a Hometrack Confidence Score, and apply to loans up to £1.25 million in London and £750,000 in other regions.
The move comes alongside an extension and upsizing of an existing £200 million warehouse facility, provided by a long-term relationship bank. That facility sits alongside Glenhawk's other institutional warehouse and forward flow partnerships, which have also been increased recently in response to continued strong demand.
"We are absolutely delighted to execute this transaction, particularly considering the wider macro uncertainties," said Andrew Townsend, chief executive officer at Glenhawk.
"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."
