Hope Capital has announced it has made significant improvements to its residential finish & exit offering, which is ideal for projects where the development has still not reached practical completion.

Now providing up to 75% LTV with rates from 0.85%, the offering has a host of benefits available, including dual representation, to ensure loans can be turned around extremely quickly.

Available across wind & watertight properties which are either currently residential or being converted into a residential property, the competitive loan is suitable for the undertaking of light to heavy refurbishment works alongside drawdowns being available.

Key features of the finish & exit product include:

·      75% max LTV

·      70% max GDV

·      Rates from 0.85%

·      Available across wind and watertight residential properties:

·      Loans from £100k-£5m

·      3-18 month term

·      Dual representation available

·      Flexible payment options

·      Fast turnaround

·      Dedicated underwriter

·      No exit fees 

The product news follows shortly after the lender announced its latest development exit loan earlier this month, which is aimed at completed residential projects, offering up to 80% LTV, no minimum term, with rates from 0.85%.

Kim Parker, Head of Sales at Hope Capital, commented: “Our finish & exit product is another fantastic product for borrowers who are looking for a solution to keep their investment plans moving.”

“Quite often a borrower will find they have taken out a development or refurbishment loan, feeling confident they will complete the necessary works by a certain date, however when the project stalls, often owing to material shortages being encountered, they panic knowing they must repay existing finances and complete any outstanding works. Our finish & exit loan relives any stress by providing the additional time needed to pay capital back, complete any works and sell the property(s) so the borrower doesn’t lose a significant amount of money.”

Hope Capital has launched its latest product in conjunction with Costcap and is very confident this will provide a much-needed solution for a significant number of borrowers who find themselves in this predicament moving forward.

John Dineen, Founding Director at Costcap, commented: “We’re extremely proud to be working in partnership with Hope Capital on this product launch. Having an “in-house” quantity surveyor will mean that projects can be assessed quicker, with clearer outcomes for borrowers from the get-go. We are excited to get started and further strengthen the fantastic relationship we already have.”

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To find out more about Hope Capital and its extensive product range call 0151 523 5998 or email: newdeals@hope-capital.co.uk