Hope Capital has launched a new bridging loan called the Hope Combi Loan.
It combines the discounted rate loan with the Hope Flexi product and a three-month 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.
For example, a borrower who needs funds for light refurbishment and knows it will take some time for the property to become income-generating, could benefit from discounted payments and then a payment holiday. This would help the borrower maximise cash flow with the ability to effectively manage the payments on the loan. The borrower has the choice of when to take the payment holiday at any time during the loan. Coupled with the discounted rate for the initial six months, this can help minimise the borrower’s initial payments.
The Combi Loan is part of the new Hope Capital Custom Collection which comprises six different products, features and options.
Gary Bailey (pictured), managing director of Hope Capital, said: “Our Combi Loan is a unique offering that really does deliver on flexibility and has affordability at its heart. As part of the Custom Collection, it is yet another option for brokers to meet a client’s specific needs.
“All our new products are designed to provide innovative solutions which offer flexibility and affordability for the borrower.”