It will include six different products, features and options, designed for those who want to effectively manage cashflow and optimise their day-one loan amount by balancing the amount borrowed, rate, LTV and fees.
All parts of the collection are specifically for loans secured on residential property.
What's included in the custom collection product range?
Mini, midi and maxi
A central part of the custom collection is a range of mini, midi and maxi loan sizes to choose from, each with a range of competitive rates and LTVs.
The mini loan starts at £50,000, Hope Capital's smallest loan to date, and goes up to £150,000.
The midi loan can offer from £150,000 up to £500,000, with any deals above £500,000 falling into the maxi loan range.
Interest rates start at 0.54% per month.
Hope Capital is also offering borrowers the option of a discounted-rate loan, whereby the initial six months is at a reduced rate.
This can be key in helping borrowers manage cashflow, particularly if a property is not income generating on day one.
The flexi loan is part serviced and part deducted.
Borrowers can not only service the loan while having some of the interest retained, but also spread interest payments 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%.
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This product combines the flexi loan 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 0% lender arrangement fee and no upfront solicitor costs.
These options help affordability by reducing the initial outlay on the loan.
Having previously required a full valuation, in many circumstances Hope is 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.
"We’re excited to have created the custom collection for our brokers and borrowers,” said Gary Bailey, managing director at Hope Capital (pictured above).
“In the current market, we believe it is more important now than ever to provide tailored products which prioritise affordability and flexibility to meet the needs of the customer.
“As always with Hope Capital, we aim to offer the utmost flexibility and speed while being transparent throughout the process.”
The entire range can be utilised in multiple combinations across standard loans, serviced loans and part-and-part loans, to help create a truly customised product.