Hope Capital cuts bridging loan rates
Specialist short-term lender, Hope Capital, has developed its residential product criteria by cutting its rates significantly and making various enhancements to internal processes and efficiencies.
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 Bank of England announcing it is holding interest rates at 5.25%.
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 of Hope Capital, commented:
“We are pleased to further strengthen our residential bridging loan offering, with these significant rate reductions.
While the Bank of England 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.”
The lender is off the back of its most successful year in business to date and is looking to propel this success even further, through making a number of internal enhancements and developments to its systems and processes.
In turn, these developments mean the lender’s team can move even more quickly in turning around applications and processing deals.
“Our enhanced offering will be supported by the developments we have introduced internally, which means we are now in an event better position to support brokers and borrowers.
Owing to the resilience and hard work of the team, coupled with the excellent service we are renowned for, 2023 delivered results well beyond all expectations.
We are currently witnessing a surge in enquiries coming through the door, so it is fantastic to see market confidence is beginning to restore.
However, it is paramount there are affordable options made available to support those who are looking to capitalise on investment opportunities.”