Hope Capital has completed its largest bridging deal to date.
Working closely with Chris Dailly of Jumbo Bridging, the £625,000 loan secured with a first charge on a property in Gloucestershire was also completed in under 72 hours from the initial enquiry coming in.
Jonathan Sealey, CEO of Hope Capital, said: “This is our largest bridging deal to date, and is actually over what we quote our maximum loan amount is [currently £500,000].
“However, when Chris Dailly at Jumbo Bridging sent the case over to us, we liked it straight away. That’s the beauty with Hope Capital using our own private funds to facilitate bridging loans; if we like a bridging deal we can look to lend on it even if it is somewhat outside our current lending criteria.
“As Hope Capital is a principle lender using private funds, we are able to break away from a rigid model of lending criteria many bridging finance companies have in place. We look to be as flexible and as entrepreneurial as possible for borrowers who require short term, property backed finance. After initial enquiry, I was able to visit the borrower at the security property within 48 hours after terms had been agreed, and before 72 hours was up we had completed on draw down of the loan. This to me is what bridging finance is all about.”
Dailly added: “Jumbo Bridging has been at the forefront of the bridging industry specialising in large property bridging loans all over the UK, and is delighted to have worked together with Hope Capital bringing together their appetite to fund new loans with Jumbo’s ability to introduce new quality business.”