Glenhawk launches new two-year property investment product

Glenhawk has launched a new two-year property investment product.

The lender says the new product has been launched in direct response to market feedback, as existing lenders pivot towards longer-term products as rising interest rates impact funding costs.

The product is available up to 70% LTV for commercial, mixed commercial, and MUB/HMO assets with a maximum loan size of £3 million and a maximum term of 24 months with no ERCs or prepayment fees.

The product is part of Glenhawk’s strategy to further diversify its current residential, commercial, mixed commercial and development exit product offering for unregulated bridging, as well as regulated bridging product. It follows the increase in its maximum bridging loan size to £10 million, announced in September.

Glenhawk is targeting borrowers who plan to acquire or refinance, income producing, commercial real estate assets, or specialist residential assets (including MUFB or HMO).

Michael Clifford, commercial director at Glenhawk, commented: “Diversifying our product range in response to market demand is central to the delivery of our £1 billion annual lending target. With lenders switching focus to longer-term products, a general tightening of lending criteria and increased pricing, we feel now is the right time to launch a property investment product.

"It will support borrowers who do not wish to tie themselves into significantly higher priced long term products that may also come with ERCs or prepayment fees. Crucially, we have the certainty of funding in place to offer professional investors a competitively priced product, with the flexibility to match their short to medium term investment strategies.”