Jonathan Sealey

Hope hires ex-Borro director for £50m southern expansion

Hope Capital has announced the appointment of a new business development manager (BDM) to support a £50m expansion into London and the South.

Maria Magnussen has joined from bridging and luxury assets lender Borro, where she had served as business development director since February 2016.

Her appointment will boost plans to double Hope’s loan book and grow staff numbers by 50% before the end of the year.

“…To do that most effectively, we decided that we needed an experienced presence in the South to achieve this,” said Jonathan Sealey, CEO of Hope Capital (pictured above).

“Having worked as a broker in the specialist broking market herself, Maria understands the requirements, frustrations and expectations of brokers.

“I am therefore confident that she will add real value to our brokers and introducers by ensuring they receive a totally dedicated service.”

Prior to joining Borro, Maria spent almost three years as BDM at Dragonfly Property Finance (now Octopus Property).

She brings more than 20 years of experience to her new role, including spells at SPF Private Clients and John Charcol.

Hope - which has an initial tranche of £50m worth of funds for London and the South - will lend on residential and commercial properties with non-regulated loans of up to £5m for a maximum of 12 months.

The news comes just six months after Hope completed its largest ever bridging loan of £4.5m, surpassing its previous record of £3.9m.

“The market had a rollercoaster year in 2016, and it is likely that we will continue to experience change throughout 2017,” added Maria.

“However, although the bridging price war continues to rumble on, with many LTVs going up and lenders becoming more pedantic, the market is continuing to show resilience.

“Therefore, now seems the perfect time for Hope Capital to increase its presence and dedicated support in London and the South.”

Earlier this month, the lender completed a £3.8m refinance of a commercial property loan.

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