Hope Capital unveils bridging product
Hope Capital has launched a new bridging loan product called ‘Hope Seven 5’.
The loan will be at a rate of 0.75% per month up to 75% LTV on non-regulated residential property up to £750,000.
The product will be available throughout England and Wales for a loan period of up to 12 months both to individuals and companies.
Hope Capital has ringfenced funds for this offer which will last as long as this tranche of funding does.
Gary Bailey (pictured), managing director of Hope Capital, said: “We have seen a growing demand for good value bridging loans for residential property quick purchases, either as a straightforward investment, or at auction, and to fill the gap due to mortgage delays, so we have launched this new bridging loan to meet these demands.
“We predict the Hope Seven 5 plan will be particularly useful for breaking a chain when buying a property which remains one of the biggest reasons for purchases falling through.”
The loan will be available on a first charge basis.