Jonathan Sealey

Hope Capital launches new flexible bridging loan




Hope Capital has launched a flexible new bridging loan tailored to suit the affordability of the client.

Hope FleXi enables borrowers to not only service the loan while having some of the interest retained, but they can also spread the repayments on the serviced part over the entire term of the loan.

As a result, the monthly interest payments can potentially be reduced by more than 90%.

In addition, Hope FleXi allows for any combination of the number of months that can be serviced or retained.

For example, a borrower who has selected a 12-month term can choose to retain six months’ interest, and make six months’ payments spread over the whole 12 months.

Alternatively, they could opt to retain five months’ interest and make seven months’ worth of payments, again spread over the whole 12 months.

By doing so, the borrower can ensure that the monthly payments reflect the repayments of any future remortgage they have planned to support their exit strategy, or to ensure that any rental income from the property can cover the repayment or interest cover ratio.

Loan terms can be from three to 12 months.

The product has been designed to help borrowers to optimise income-generating property, cash flow and capital requirements.

Jonathan Sealey, chief executive officer at Hope Capital (pictured above), commented: “We understand that individual circumstances — the borrower’s own financial position and the nature of the property they are investing in — will vary greatly from case to case.

“At Hope Capital, we make it our job to take all these different situations into account and do our utmost to lend in any scenario where the loan achieves the borrower’s aspirations, is affordable and enables a viable exit strategy.”

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