Lender launches £750k bridging offering

One of the industry’s entrepreneurial bridging lenders has extended its maximum loan value amount by 50 per cent to £750,000, after being inundated with requests for higher value loans.

Hope Capital, based in the North West of England, has reported an influx of activity in larger value loans, prompting the extension of its product on a six month basis to now offer deals from £100,000 to £750,000.

The company has already outlined its ambitions for 2013, with plans to continuously expand its loan book to accommodate more experienced property investors.

Hope is currently offering brokers and introducers a 1.5 per cent proc fee on all bridging deals which are completed before the end of June 2013.

Commenting on the extension to the loan size, Jonathan Sealey, CEO of Hope Capital, said: “We recently completed a deal outside our lending parameters, we were able to do this because we are privately funded and not tied by the restraints of conventional lenders.

“Whilst we have not turned away deals that were over our max loan amount we wanted the market to be aware that larger loans are not a problem to us, and therefore increased our published loan amount.

“Our ability to draw down quickly gives us a real advantage, seen recently with our largest bridge to date completing within 72 hours of initial enquiry.”