Specialist short-term lender, Hope Capital has today announced it has revamped a number of its bridging finance products to enhance its competitive offering. The firm has also launched a brand-new product range, The Capital Collection, for all property types.
As part of the new collection, rates on commercial deals have been reduced significantly, having previously started at 0.90% to now being from 0.82% per month.
In addition, Hope Capital’s Seventies Collection, for residential property, now provides a maximum loan amount up to £1m. With fantastic rates from just 0.725% per month and up to 75% LTV, the Seventies Collection continues to meet the needs of borrowers purchasing residential property or looking to refinance.
Hope Capital’s Eighties Collection has also been updated to provide a revised offering to borrowers, with the bridging lender now taking mixed-use cases up to 70% LTV and interest rates starting at just 0.80% per month. The maximum loan amount for these highly competitive products goes up to £800,000.
Furthermore, Hope Capital has also bolstered its Refurbishment Range which comprises two different products, Refresh and Renovate, each providing a different solution tailored to the level of refurbishment the borrower plans to undertake.
Gary Bailey, Managing Director of Hope Capital, commented: “With the property market currently being so active and the bridging finance industry remaining strong, we have seen a huge increase in enquiries over the last few months and have made it our priority to listen to feedback from our brokers and borrowers on the types of loans they would like to see in the market.”
“In line with the launch of the Capital Collection, we have revamped a number of our highly demanded bridging loans, which includes increasing the Seventies Collection maximum loan amount to £1m. The changes have taken into consideration the feedback we have received and the needs of individual borrowers. By providing lower rates, higher LTVs and so forth, we are now even better positioned to offer more affordable and innovative solutions to brokers and their clients.”
The Capital Collection has an array of options to choose from across residential, mixed-use and commercial property. With competitive rates, up to 75% LTV and loans up to £5m, there’s a raft of options to suit borrower needs. The borrowing can either be on a retained or serviced interest basis and are available throughout England and Wales for loan periods up to 12 months.
The new collection has been designed to meet a wide range of borrowers needs and is suitable for various borrowers, including those who live outside of the UK, have an imperfect credit rating and so forth.
Hope Capital continues to offer it’s popular Discounted Rate loan, with rates starting from just 0.54% per month. This product has been particularly sought-after by borrowers who are looking to balance cash flow, rate and the day 1 loan amount.
Gary Bailey, added: “With a set of highly competitive rates and LTVs, the Capital Collection reflects the feedback we have received and enables brokers and borrowers to be ideally positioned to take advantage of new residential, mixed-use and commercial opportunities as the economy begins to recover. We anticipate reducing commercial rates will be a particular hit in the market.”
The news of Hope Capital’s product revamp follows the recent announcement that the specialist lender is expanding its offering to brokers and their clients who have property in Scotland.