Glenhawk has revealed its latest free valuation promotion, aimed at reducing up-front funding costs for borrowers.

The short-term lender will pay borrower valuation fees up to £2,500 (inclusive of VAT) on all new unregulated bridging applications up to £3 million in value, on applications received between 26th June and 31st August 2023.

Launched directly in response to market feedback, this is Glenhawk’s second free valuation promotion in 2023, as property investors, developers and homeowners face increased financing considerations for property acquisitions and refurbishment projects.

Glenhawk enjoyed a record month of lending in May, with £54 million of loan completions, representing a 47% increase on the previous record month. Meanwhile, enquiries increased by 34%.

Nick Hilton, managing director at Glenhawk, said: “Brokers are operating in an incredibly challenging climate. We are confident that this initiative will support our client base, as more developers, investors and homeowners turn to alternative lenders to complete transactions amidst the ongoing volatility. With costs escalating, it helps to reduce any upfront costs enabling activity across the residential market to continue.”