Glenhawk has reduced rates across its regulated bridging range to the lowest levels in its history, as falling interest rates bolster confidence among UK homeowners.

The short-term property lender has lowered monthly rates by up to three basis points, which it believes makes its products some of the most competitive in the market.

Loans up to 75% and 70% loan-to-value will now be offered at 0.69% a month, down from 0.72%, while the 65% to 50% range has been cut from 0.64% to 0.61%.

The lender will also introduce second charge bridging loans on its regulated prime product, capped at 70% LTV, designed to complement first charge loans in chain break scenarios.

Nick Hilton, director of lending at Glenhawk, said: “Despite broader macro volatility, downward trending interest rates have driven improved sentiment, which is underpinning growing appetite from borrowers looking to invest in their primary residence.

“Our unique funding structure means we are able to be more competitive than nearly all of our competitors, whilst providing borrowers and brokers with the certainty that transactions can be financed to support a critical refurbishment or exit within their required timeframes.”