gary bailey

Hope Capital registers 291% surge in bridging loan completions in 2020

Hope Capital has reported a 291% increase in bridging loan completions for the 12 months to December 2020 compared to the previous year, growing the loan book to its largest point to date.

The lender also revealed that, despite several months of lockdown and a pause in lending due to Covid-19, new enquiries were at levels unseen previously, with cases rising by 135% on 2019.

The demand from brokers and borrowers had been met with the launch of several new bridging loan products, including Hope FleXi, the Custom Collection and the Seventies Collection.

The lender also launched a new range of bridging loans in January 2021, specifically designed for borrowers undertaking property refurbishment projects.

In addition to the new products, Hope Capital also continued its expansion strategy with the appointment of five new team members to support increased business volumes. 

This included the first apprenticeship scheme offered by the business, which is part of its plans to educate the next generation in specialist lending.

Gary Bailey, managing director at Hope Capital (pictured above), said: “We are very proud of what we achieved in 2020. 

“There is no doubt the year was very challenging for the industry due to the Covid-19 pandemic and subsequent lockdown measures — however, we weathered the storm and worked extremely hard to continue to provide the same exceptional service to brokers and their clients, which resulted in us achieving exceptional outcomes. 

“Our success last year is completely down to the dedication and commitment of the Hope Capital team, whom we are so appreciative.” 

Gary added that the feedback and response the lender had received for the new product ranges had been fantastic.

“As a business which prides itself on providing innovative products and outstanding customer service, we are delighted to see the new products be so well received. 

“2021 will undoubtedly present new challenges, [but] we are looking forward to providing bespoke and fast solutions to support our brokers and existing and new clients.”

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