Glenhawk has announced significant improvements to its AVM criteria.

The bridging specialist lender can now offer free AVMs on single residential properties up to 75% LTV in England, Scotland or Wales.

AVMs can be used against more than one property per loan, will use a Hometrack Confidence Score and can be applied to loans up to £1.25m in London and £750K in other regions.

The criteria enhancement comes as part of an extension and upsizing of an existing £200m warehouse facility, provided by a long-term relationship bank of Glenhawk. This facility sits alongside Glenhawk’s other institutional warehouse and forward flow partnerships, which have also recently been increased.

Commenting, Glenhawk chief executive Andrew Townsend said: “We are absolutely delighted to execute this transaction, particularly considering the wider macro uncertainties. We understand the stability and robustness of a lender’s funding lines is of increasing importance to brokers, and this renewal with a major institution underlines the strength of ours.”

He added: “Transacting at speed and with certainty, is also of high importance to our brokers, so this is a fantastic improvement to our criteria.”