The lender’s residential rates are now available from 0.85%, offering up to 75% LTV, with a loan on properties worth up to £5m.
The news of Hope Capital’s rate cut follows the BoE announcing it is holding interest rates at 5.25%.
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Rates now stand as the following across its residential range:
- All bridging deals including light refurbishment cases:
- Rates from 0.85%
- Medium refurbishment cases:
- Rates from 0.92%
- Heavy refurbishment cases:
- Rates from 0.97%
Jonathan Sealey, CEO at Hope Capital, commented: “We are pleased to further strengthen our residential bridging loan offering, with these significant rate reductions.
“While the BoE made the decision to retain interest rates for the fourth consecutive time on the bounce, we are delighted to be in a position to reduce our rates to support our brokers and borrowers with affordable options.”
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