New bridging lender enters market

Mayfair-based Glenhawk will lend using its own capital and will be led by CEO Guy Harrington alongside Managing Director Paul McFadyen, the former UK Managing Director of Regis Group.

Joining them is Director of Lending Nick Hilton, who has lent over £300m across both residential and commercial bridging since 2008.

Glenhawk's rates start from 0.5% per month and span from £300,000 to £5,000,000 with no admin or exit fees.

The lender promises to to pay brokers commission as soon as the loan is closed and offer an agreement in principle within minutes.

CEO Guy Harrington said: “I founded Glenhawk because I’ve been there. I've been a client and used short term finance myself so know exactly what a developer needs from a short-term finance partner.

"Competitive rates are only one part of the package – you also need to keep things swift and simple and invest in lasting relationships. Just because it’s a short-term loan, that’s no excuse for short-termism. We’re doing property finance properly.”

Non-Executive Director, Harry Hill, added: “The short-term property finance market is a crucial part of the property development sector in the UK but has suffered in the past from association with the sharp business practices of an unsavoury minority.

“On the whole, we’re past that, but there was still room for a new player with a fresh approach to wake things up. When I met Guy and the team he’s assembled at Glenhawk, I was confident I’d found just that. I’m looking forward to seeing what Glenhawk can do.”