The team at Hope Capital are reflecting on the extraordinary year of 2020, including the many achievements the company made. Following a series of notable accomplishments throughout last year, including unprecedented demand and enquiries from new brokers, now is an appropriate time to reflect and look forward to the year ahead.
Hope Capital recorded a 291% increase in bridging loan completions for the 12 months to December 2020 versus the previous year, growing the loan book to its largest point to date. Despite several months of lockdown and a pause in lending due to Covid-19, new enquiries were at levels unseen previously with cases rising by 135% on 2019.
The demand from brokers and borrowers, has been met with the launch of several new innovative bridging loan products. First came the Hope FleXi product, followed by the Custom Collection in June and the sought-after Seventies Collection in September. More new products have been launched in January 2021 and there are plans in the pipeline to launch additional bridging finance options throughout the year. Full details of each product can be found on the website here.
In addition, the business also continued its ambitious expansion strategy with the appointment of five new team members to support increased business volumes. This included the first apprenticeship scheme offered by the business, part of its plans to educate the next generation in specialist lending.
Gary Bailey, managing director of Hope Capital, said:
“We are very proud of what we achieved in 2020. There is no doubt the year was very challenging for the industry due to the Covid-19 pandemic and subsequent lockdown measures, however we weathered the storm and worked extremely hard to continue to provide the same exceptional service to brokers and their clients, which resulted in us achieving exceptional outcomes. Our success last year is completely down to the dedication and commitment of the Hope Capital team, whom we are so appreciative.”
Gary Bailey, added:
“The feedback and response we have received from the new product ranges has been fantastic. As a business which prides itself on providing innovative products and outstanding customer service, we are delighted to see the new products be so well received. 2021 will undoubtedly present new challenges, however we are looking forward to providing bespoke and fast solutions to support our brokers and existing and new clients.”
Hope Capital is renowned for being a highly flexible lender and is dedicated to providing superior service and support to brokers and their clients from initial enquiry stage through to completion.