Through the Custom Collection brokers can offer their customers a loan that meets their needs. All parts of the collection are specifically for loans secured on residential property and enable the most suitable loan to be created by picking the options and features that best suit their needs.
The product range: MINI, MIDI & MAXI
A central part of the Custom Collection is a range of MINI, MIDI and MAXI loan sizes to choose from, each with competitive rates and LTVs. Hope Capital is now able to offer its smallest loan to date within their MINI loan range which opens up lending to a raft of new customers who require a loan of £50,000 or more.
Discounted Rate Loan
Hope Capital is also offering borrowers the option of a discounted rate loan whereby the initial six months is at a reduced rate of 0.54%. This can be key in helping borrowers manage cashflow, particularly if a property is not income generating on day one.
Hope FleXi Loan
The Hope FleXi is a part serviced and part deducted loan. Borrowers can not only service the loan whilst having some of the interest retained, but also spread interest repayments on the serviced part across the entire term of the loan. This means that the monthly interest payments are significantly reduced for the borrower, potentially by over 90%.
Hope Combi Loan
This brand-new product combines the Hope Flexi with the Discounted Rate Loan and a payment holiday period. It is suitable for customers wanting to optimise the loan amount they receive on day one and service their loan but who need a payment holiday for a period during the loan term. In addition to the payment holiday, the borrower can have a discounted rate for the first six months.
One feature of the collection is the option for a zero lender arrangement fee and no upfront solicitors’ costs. These options help affordability by reducing the initial outlay on the loan.
Accepted Valuation Range
Hope Capital are now accepting a range of valuation types. Having previously required a full valuation, in many circumstances they are now able to lend based on AVMs, Drive-bys or Desktop valuations. Some of these are without any associated fee which can help in meeting the customer’s needs and make a loan affordable and suitable.