The product now offers a seven-month term — extended from six months — in addition to a 12-month term, and is available on residential non-regulated property, HMOs, holiday lets and for portfolios of up to three properties.
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It can also be used for a range of different purposes, including refinance, capital raising and debt relief and is available at a rate of 0.75% per month, up to 75% LTV on non-regulated residential property up to £750,000.
The loan can be utilised by individuals, companies and other legal entities throughout England and Wales on a first charge basis for loan periods from three to 12 months.
“The Hope Seven 5 bridging loan has struck a chord with a lot of brokers and their clients and has been recognised as a popular bridging loan ever since we introduced it at the end of September last year,” said Gary Bailey, managing director at Hope Capital (pictured above).
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