The property – a residential property located in Kent – was purchased at auction, so the borrower - a private investor - needed to access the funds quickly.
Using an AVM enabled Hope Capital to issue the loan, for £163,350 at 55% LTV, in seven working days from enquiry to completion.
The brokers for the loan, Synergy Commercial Finance, were impressed by the speed and willingness to go the extra mile the Hope Capital team showed.
Jo Malyon, of Blue Badger Financial, part of the Synergy network, commented:
“A big ‘thank you’ to all of the team. Dealing with Hope Capital has been a breath of fresh air and the team there will be my first port of call on every case."
Jonathan Sealey, CEO of Hope Capital, said:
“At Hope Capital, we are all about finding a solution for every borrower that meets their needs and timescales. In this case, an AVM was a vital part of that process. Embracing this technology means we are able to complete loans much more quickly where necessary, without waiting for a full valuation."
