Hope Capital is to launch its new Custom Collection range of bridging loans.
This collection is a set of six different products, features and options which can all be used by borrowers to create a unique, personalised loan, the lender says.
The Hope Capital Custom Collection has a number of options to choose from and is designed for those who want to effectively manage cashflow and optimise their day-one loan amount by balancing the amount borrowed, rate, LTV, fees and with an affordable payment.
Through the set of new products on offer from Hope Capital, all set to launch imminently, brokers can offer their customers a loan that meets their needs. All parts of the collection are specifically for loans secured on residential property and enable the most suitable loan to be created by picking the options and features that best suit their needs.
The product range is as follows:
MINI, MIDI & MAXI
A central part of the Custom Collection is a range of MINI, MIDI and MAXI loan sizes to choose from, each with a range of rates and LTVs. Hope Capital is now able to offer its smallest loan to date within its MINI loan range.
Discounted Rate Loan
Hope Capital is also offering borrowers the option of a discounted rate loan whereby the initial six months is at a reduced rate. This can be help borrowers manage cashflow, particularly if a property is not income generating on day one.
Hope FleXi Loan
The Hope FleXi is a part serviced and part deducted loan. Borrowers can not only service the loan whilst having some of the interest retained, but also spread interest payments on the serviced part across the entire term of the loan. This means that the monthly interest payments are significantly reduced for the borrower, potentially by over 90%.
Hope Combi Loan
This new product combines the Hope Flexi with the Discounted Rate Loan and a payment holiday period. It is suitable for customers wanting to optimise the loan amount they receive on day one and service their loan but who need a payment holiday for a period during the loan term. In addition to the payment holiday, the borrower can have a discounted rate for the first six months.
One feature of the collection is the option for a 0% lender arrangement fee and no upfront solicitors’ costs. These options help affordability by reducing the initial outlay on the loan.
Hope Capital are now accepting a range of valuation types. Having previously required a full valuation, in many circumstances they are now able to lend based on AVMs, drive-bys or desktop valuations. Some of these are without any associated fee.
The whole Custom Collection can be utilised in multiple combinations across standard loans, serviced loans and part-and-part loans, to create a truly customised product.
Gary Bailey (pictured), managing director of Hope Capital, said: “We’re excited to have created the Custom Collection for our brokers and borrowers. In the current market, we believe it is more important now than ever to provide tailored products which prioritise affordability and flexibility to meet the needs of the customer.
“As always with Hope Capital we aim to offer the utmost flexibility and speed whilst being transparent throughout the process.”