Hope Capital has completed a re-bridge loan in just five working days, providing a £186,000 facility to help a property investor retain a residential HMO in Warrington while securing longer-term finance.

The borrower, Roger Goodwin of Goodwin Property Ltd, had converted the property into an HMO under permitted development rights, but delays in securing a refinance option required an interim funding solution to prevent forced disposal of the asset. Hope Capital stepped in to provide a 12-month term loan, giving the borrower additional time to arrange a permanent funding structure.

FAST-TRACK APPROACH

Given the time-sensitive nature of the deal, Hope Capital fast-tracked underwriting, used title insurance, and waived upfront legal undertakings, significantly reducing the time required to complete the transaction. The lender also opted to use a desktop valuation, even though the property fell outside of its standard criteria, further accelerating the process.

The deal was brokered by Sophie Owen at Pure Property Finance, and the full loan amount was advanced on day one at a rate of 0.85%.

Kim Parker (pictured), head of sales at Hope Capital, highlighted the lender’s ability to move quickly in urgent cases: “This is a prime example of how we’re able to step in to support our borrowers with an ultra-fast service. Through our partnership with Pure Property Finance and our adaptive approach, we implemented various features, ensuring we could step in and speed up the process.

“While a 12-month loan term was initially agreed to ensure the borrower had the time needed to organise their exit strategy, we were able to provide an early redemption, demonstrating our commitment to flexibility throughout the entire loan process.”

Seven weeks after completion, the borrower contacted Hope Capital’s case management team to arrange an early redemption.

Goodwin added: “Hope Capital came to the rescue when a mortgage offer didn’t complete on time due to capacity issues in their conveyancing team. I was delighted with the service I received throughout the whole process.

“I was especially grateful for the accommodations made during the valuation stage as this sped up the process and gave me more time to access my long-term options.”

The deal was structured and completed with the support of broker Sophie Owen at Pure Property Finance, who ensured the borrower was able to exit their existing bridging facility on time and avoid significant financial penalties.

Owen explained: “I had an urgent bridging loan enquiry come in on a Monday morning for a client needing to exit an existing bridging loan facility on the same Friday, or face massive charges. I spoke with Hope Capital’s national account manager, Sam Lea, about the case who promptly got terms over.

“Andrew Bate then underwrote the case and took it through to completion. His rapid updates and seamless underwriting got the case done in time and was instrumental to getting the desired outcome for the client.”