Hope Capital has launched a new residential bridging loan product, specifically designed to give borrowers enhanced liquidity from day one, providing the funds needed to purchase a property and begin works immediately.
The product offers 75% net at 0.95% on light, medium and heavy works, with works forward funded throughout the loan term. This gives borrowers the confidence and cashflow to move quickly and progress their refurbishment projects through to completion.
Bridging loans are available up to 70% GDV for purchase, refinance and capital raise with works, with loans up to £5m and up to 100% build costs covered. Hope Capital offers flexible payment options on 3-18 month terms, with no exit fees and dual representation available up to £750,000. Up to 100% of the purchase price is available with additional security as a first or second charge.
Refurbishment funds are released on the same day the monitoring agent’s report is received, whether conducted remotely or in person, with the potential to qualify for an instant valuation at no cost to the borrower for light works.
Desktop valuations are available within 48 hours for light works with full title insurance, no upfront legal undertaking available up to £1m, and electronic KYC & AML verification.
The launch follows Hope Capital’s recent restructure of its portfolio management team, enabling the lender to provide faster drawdowns, with refurbishment funds released within 24 hours, improving cashflow and client experience.
Kim Parker (pictured), head of sales at Hope Capital, said: "In today’s market, speed and certainty are more important than ever. Our new 75% net product is built for clients who need maximum upfront liquidity, and the assurance that they can access it without delay. For borrowers embarking on refurbishment projects, having funds available from day one is crucial, not just for the purchase, but to get works underway immediately. That’s exactly what this product delivers, and we’re excited to bring it to market.”
