Short-timer lender Hope Capital has revised its product proposition, with non-discounted rates now starting from 0.59%.
It is also now providing second charge bridging loans, when cross charging with a irst charge as additional security, meaning borrowers can maximise their borrowing.
Hope Capital will continue to provide loans from 50k to £5m and for a term of up to 18 months.
Details of the new product range include:
- Residential bridging loan & residential refurbishment loan: rates now start from 0.59%, up to 60% LTV with max LTV’s up to 80%
- Mixed-use bridging loan & mixed-use refurbishment loan: rates now start from 0.78% with up to 70% LTV
- Commercial bridging loan & commercial refurbishment loan: rates now start from 0.78% with up to 65% LTV
- Land with planning bridging loan: rates now start from 0.79% with up to 65% LTV
- Second charges available as a cross charge on additional properties: up to 70% LTV
- Automated Valuation Model (AVM): now offering maximum 70% LTV on residential AVMs
- Desktop Valuations: now accepting desktop valuations on residential property up to £2m with up to 75% LTV
Gary Bailey (pictured), managing director of Hope Capital, said: “Throughout 2021 we launched a range of products to accommodate the needs of brokers and their clients. Moving forward, we have revamped our product range, which not only incudes reducing rates, but also repositioning our offering as a whole, so it is clearer and more appealing.
“In turn, this helps enhance the broker experience and solidifies our position within the bridging lending market in terms of affordability and service.”
Roz Cawood, director of sales, added: “At Hope Capital, we prioritise listening to brokers and taking their feedback into consideration. As a result, this enables us to deliver a range of competitive and innovative solutions to meet the needs of their clients.
“With the market reaching an all-time high in terms of the interest shown in bridging loans in general, it has become clear that brokers want access to products which are transparent and of course, affordable. The product revamp we have undertaken reflects all of these elements, which is why we feel confident these improvements will be well received.”
