Hope Capital

Hope Capital launches Lions fast track bridge

Hope Capital has today (13th July) introduced a new offering to provide brokers and borrowers with “roaring deals” to lift their spirits following England’s defeat in Sunday’s Euro 2020 final.

The Lions fast track bridge has been created to deliver the lender’s fastest bridging loan in a bid to give investors more prospects to achieve their residential investment goals.

The facility is set to give clients the opportunity to complete a deal within hours of making an initial enquiry.

The product — which can be used up to 65% LTV on properties worth a maximum of £500,000 — has interest rates starting from 0.54% and offers borrowers savings on their upfront costs to help with affordability.

It will be available throughout England and Wales for a maximum loan period of 12 months on residential property.

Roz Cawood, director of sales at Hope Capital (pictured above), commented: “We do not require solicitor’s fees to be paid upfront, will consider no PGs, and will also lend based on an AVM, rather than a valuation, making borrowing significantly faster and more accessible for customers.

“For mixed-use and commercial property, we will also consider no PGs and have specific products for borrowers securing loans on mixed-use or commercial property.

“In addition, borrowers can take a payment holiday during the loan term, and there are also flexible arrangement fee options available to help with receiving maximum funds on day one.”

In Q2, the business grew its loan book by 169% and saw its average loan size for completed deals go up by over 120%.

Hope Capital also revamped a number of its bridging loans in June.

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