The bridging lender says the Marketing Bridge has been designed to ‘forward fund’ a developer’s proposed development by providing them with a bridging loan on completion of building work.
This will allow them to pay off their more expensive development loan at the moment of completion whilst providing them with up to six months longer to sell the project.
Jonathan Sealey, Chief Executive Officer at Hope Capital, said: “Our Marketing Bridge has been carefully designed to cater for the needs of experienced developers.
“For a long time developers have been crying out for a means to fund newly built units so that they have time to market and sell them properly at full market value.
“Having a bridging loan of this nature should enable them to significantly increase their profit margins whilst also paying off their original higher rate borrowings.
“Being a true principal lender has meant that we can rapidly respond to the needs of the market and come up with the short term loans that people really need.”
With Hope’s Marketing Bridge, the developer can receive a formal offer of a bridging loan of up to 75% of the gross development value of the completed project.
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