Previously, the lender offered dual representation on residential auction deals only, however by now considering this on all cases, it will be instrumental for borrowers looking to make significant cost savings.

Dual representation, which is where a solicitor represents both the lender and the borrower in a loan transaction, has several benefits.

As well as enabling the borrower to save money, it can also significantly speed up the deal process, with there being no need to relay messages between two solicitors, resulting in communication being more direct and efficient.

This includes offering free AVM’s instantly and desktop valuations within 48 hours.

•   What's in store for the bridging and commercial markets in 2024?
•   'No lender enjoys litigation, but it is increasingly a necessary part of the recovery process'
•   Nathan Mollett raises £14,500 running Moroccan Sahara race

Kim Parker, head of sales at Hope Capital (pictured above), said: “Speed, affordability and a streamlined process is what is expected when opting for a bridging loan.

“This is a key step forward to ensure we can facilitate transactions in an even quicker manner, while also helping our borrowers make significant cost savings. Having already utilised dual representation with a number of our solicitor partners, we’re looking forward to supporting even more borrowers with this moving forward.”

Laura Carr, head of underwriting at Hope Capital, added: “This service improvement further simplifies the legal process for our borrowers, when the circumstances are right.

“We’ve established some fantastic relationships with solicitor firms over the years, who have a lot of experience providing joint legal advice, and we look forward to working alongside them to continue to deliver the outcome our clients are looking for.”