"We also understand speed is of the essence, especially for those looking to beat the September stamp duty deadline"
The new bridging loan facility provides borrowers with interest rates from 0.54% as well as savings on upfront costs to help with their affordability. The product is available up to 65% LTV on properties worth up to £500,000 and offers the opportunity to complete the deal within hours of making an initial enquiry.
It will be available throughout England and Wales for a maximum loan period of 12 months on residential property.
Roz Cawood, director of sales at Hope Capital, commented: “The LIONS Fast Track Bridge will further expand our offering and has been created to provide a unique opportunity, where borrowers can access funds extremely quickly.
“We do not require solicitor’s fees to be paid upfront, will consider no Personal Guarantees (PGs) and will also lend based on an Automated Valuation Model, rather than a valuation, making borrowing significantly faster and more accessible for customers. For mixed-use and commercial property, we will also consider no PGs and we have products specifically for borrowers securing loans on mixed-use or commercial property. In addition, borrowers can take a payment holiday during the loan term and there are also Flexible Arrangement Fee options available to help with receiving maximum funds on day one.
“At Hope Capital, we are dedicated to creating solutions which meet the diverse needs of borrowers, their affordability and aspirations. We also understand speed is of the essence, especially for those looking to beat the September stamp duty deadline, which is why we expect the LIONS Fast Track Bridge to be a highly desirable option for brokers and their clients.”