Hope Capital has extended its lending to 24 months.
Until now Hope Capital’s maximum lending term was 12 months but this has now been doubled “where it is the right solution,” the lender said.
Rates start from 0.69% on loans of up to £5 million across its range of bridging loans.
The term to 24 months can be considered on all Hope Capital’s lending including: residential, retail, commercial and semi-commercial properties and land. Borrowers can use the loans for property purchase, refinance, refurbishment and an array of other business purposes.
Terms will typically be offered within one hour of the loan application and brokers will continue to have direct access to underwriters and senior decision makers.
Jonathan Sealey (pictured), CEO of Hope Capital said: “We have seen a growing demand for loans for a longer loan period. As a highly responsive lender, known for excellent service, it made perfect sense to vary our loan terms so we can meet this demand from brokers and their clients.”