Specialist short-term lender, Hope Capital, will be holding rates on all deals over £500k until at least the end of April, following the Bank of England announcing it has once again raised interest rates.
Hope Capital introduced its fixed rate scheme, the Hope Guarantee, in September 2022. This involves borrower’s rates being fixed for the term of their loan, as soon as Hope Capital’s solicitors have been instructed providing there are no material changes to the application or loan.
Jonathan Sealey (pictured), CEO at Hope Capital, said: “With many lenders continuing the trend of withdrawing fixed rate deals from market with little or no notice and introducing higher rates instead, we have decided to counter this by continuing to roll out our fixed rate scheme, the Hope Guarantee.
“Following the latest rate rise, I predict that even more lenders will focus on variable rates and pull their products from the market. Therefore, we hope our decision will provide reassurance and support borrowers who are looking for a solution to overcome this.
“This is no doubt a challenging time, but having the opportunity as a borrower to lock in at a great rate now and protect themselves against even further rate increases, we feel is pivotal, especially with the competitive options we provide.”
