Glenhawk has unveiled a new free valuation promotion, focused on reducing the up-front cost of borrowing for clients.

This latest initiative builds on direct feedback from clients and brokers and will support the delivery of real estate acquisitions and refurbishment schemes against the backdrop of high inflation, which is contributing to rising material, labour and finance costs.

Glenhawk will pay borrower valuation fees up to £2,500 (inclusive of VAT) on all new unregulated bridging and refurbishment applications up to £3 million in value, received between 10 and 31 January, and completing on or before 31 March 2023.

Glenhawk saw strong demand for its short-term lending products in 2022. As at September the live loan book had doubled year on year, and in November it enjoyed a record completion month.

Michael Clifford (pictured), commercial director at Glenhawk, said: “As borrowers grapple with rising costs, we want to support them and help ease this burden where possible. Covering the cost of valuations is another example of the client-centric approach that has been at the heart of our proposition since we launched over five years ago, and has underpinned another strong year of lending.

“This initiative will help investors and developers manage their costs by significantly reducing the up-front payments required to arrange a loan with us and should enable a greater number of borrowers to deliver much needed projects across the UK.”