Hope Capital launches special edition bridging products
Hope Capital has launched a special version of its ‘Seventies Collection’, with two revamped bridging loan products, the HOPE 725 and improved HOPE 75.
The HOPE 725 product offers a rate of 0.725% per month and up to 72.5% loan-to-value (LTV) on non-regulated residential property, with a loan up to £725,000.
The HOPE 75 bridging loan has an LTV of 75% with a reduced rate of 0.74% per month for residential properties with a loan up to £575,000.
The two products will be available throughout England and Wales for a loan period of up to 12 months, both to individuals and companies, available on a first charge basis.
Borrowers can use the loans for property purchases in a range of situations from a straightforward purchase, buying at auction, with or without a light refurbishment or to chain-break a mortgage. Additionally, the loan can be used to refinance existing debt and give the borrower time to put in place a longer-term finance solution.
This is a limited time offer, available for new enquiries received by the lender before the end of November.
The Seventies Collection can be used alongside elements of the recently launched Custom Collection which comprises six different products, features and options.
Gary Bailey, managing director of Hope Capital, said: “We have experienced huge demand for the Seventies Collection and have improved the products as a Halloween treat for brokers.
“We anticipate these updated products will meet this market demand. They will be particularly useful for securing immediate funding whilst mainstream lenders are unable to meet the needs of borrowers, in the time frames they require to seize the opportunities.
“All our new products are designed to provide innovative solutions which offer flexibility and affordability for the borrower.”