Hope Capital and Foundation Home Loans enhance product ranges

Hope Capital and Foundation Home Loans have added new products to their specialist finance suites.

Hope Capital

Hope Capital has launched a new fast-track bridging product.

The new LOANS option provides facilites up to £750,000 at maximum 75% LTV for properties worth up to £1m.

As part of the offer, the lender announced it will now lend based on an open market valuation (OMV), across residential, commercial and mixed-use property types.

In addition, it will accept AVMs up to £750,000 and desktop valuations on residential properties up to £1m.

Roz Cawood, director of sales at Hope Capital, said: “As we once again face an uncertain period within the economy, we wanted to provide some additional festive support and a brand-new opportunity as we enter the new year. 

“The LOANS fast-track bridging offering reflects everything we stand for at Hope Capital: delivering innovative, flexible, tailored solutions quickly and efficiently, which cater for the requirements of different borrowers, their individual circumstances and their level of borrowing.

“The decision to now accept OMVs was made to increase our competitiveness as we head into 2022. 

“This will also support borrowers who are looking to achieve their investment and business goals going forward.”

Foundation Home Loans

Foundation Home Loans has launched a range of new BTL products at 85% LTV for the first time.

The new 85% LTV suite includes two- and five-year fixed-rate options within its F1 product range, priced at 4.79% and 4.99%, respectively.

The products, which don’t include any product fees, are available to limited companies, individuals and portfolio landlords as standard, for properties with a minimum value of £125,000.

In line with the rest of the range, rental income on the five-year fix is calculated at the pay-rate.

George Gee, commercial director at Foundation Home Loans, said: “In terms of pre-Christmas presents for the adviser community and their landlord clients, we don’t think it gets any better than Foundation increasing our maximum LTV and being able to offer 85% LTV products on BTL for the very first time. 

“This expansion comes at a time when we are seeing strong demand for increased LTVs.

“Based on the fact that we are able to offer these products with no product fee to a wide range of landlords, we hope will go down well with advisers. 

“Landlords continue to look at the current property market, with strong tenant demand and yield, as an opportunity to grow their portfolios and, as a specialist in this sector, we believe our range can help them fulfil their ambitions via their trusted advisers.”

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