Hope Capital launches new 80% LTV development exit loan product

By Bridging Loan Directory 2nd July 2024

Specialist short-term lender, Hope Capital has announced it is now offering 80% max LTV combined with the lender’s lowest rate, on its residential development exit product range.

Designed for completed projects, the loan can be used to relieve any pressure from the borrower who needs to pay outstanding capital back to their existing lender while they need additional time to find the right buyers.

Key features of the development exit loan include:

80% max LTV (additional security may be required)
Rates from 0.85%
No minimum term
Residential property only
Potential to capital raise for business purposes
Loans from £100k-£5m
1-18 month term
No upfront legal undertaking available
Dual representation
Flexible payment options
Fast turnaround
Dedicated underwriter
No exit fees

Kim Parker, Head of Sales at Hope Capital, commented:

“Often, once a borrower has a project which has completed, there will be a limited amount of time to sell the property(s) and subsequently, pay back the loan.

Our development exit finance option can therefore be used to raise capital quickly and provide the borrower with vital breathing space to sell the property, while tying up their existing finance obligations.”

Kate Cowan, Chief Financial Officer at Hope Capital, added:

“We’ve worked with a significant number of brokers who have clients in need of this lifeline and predict there will be an influx of new borrowers in the same predicament in the near future.

This is why we want our brokers to be reassured that we have ideal options for their clients to switch to a short-term, possibly lower-cost, funding option.”