Hope Capital launches bridging loan for auction purchases

Hope Capital has today (3rd October) introduced a new bridging product for borrowers looking to purchase residential properties at auction.

The option offers loans from £200,000 to £2m at maximum 75% LTV on terms between 3-18 months, with rates starting from 0.89% per month.

It comes with no upfront legal undertaking with dual representation, and is available in England, Wales and Scotland for purchase and self-funded light refurb works only.

Jonathan Sealey, CEO at Hope Capital, commented: “Owing to the growing demand for this type of loan and conversations we’ve had with brokers, it felt like the right time to launch a solution which is specifically tailored to auction purchases.

“We hope [it] will be instrumental in ensuring borrowers can continue with their investment opportunities, regardless of the disruption in the market currently.

“The main attraction of purchasing a property at auction using a bridging loan is the speed it can offer.

“With the majority of bidders against a 28-day timeframe, we have an extremely efficient team and smooth onboarding process to ensure our borrowers can raise their paddle with confidence.”

Leave a comment