Hope Capital has launched a new product for borrowers with ‘good’ or ‘excellent’ credit.

The lender has made sizeable rate reductions to its residential offering, where borrowers who fit into the criteria can now benefit from either 75% LTV at 0.91% or 70% LTV at 0.89%.

Designed for light works on residential projects with a value up to £750k, loans must fall under the lenders AVM and desktop valuation criteria and title insurance is required.

ELIGIBILTY REQUIREMENTS

• Good or excellent credit rating
• Reside in the UK
• Have at least one other UK asset
• No CCJs in 24 months
• No missed mortgage payments in 24 months
• No bankruptcy/IVA’s
• No rolling arrears

Kim Parker, head of sales at Hope Capital, said: “Following the Bank of England’s recent interest rate cut, we wanted to inject a little more momentum into the market, providing a fantastic opportunity for our borrowers with clean credit to capitalise from very competitive rates complimented with high LTVs.

“Our offering is extremely versatile, providing a host of options across our product range for all types of borrowers and their individual circumstances.

“Having this extremely competitive offering now available, we are confident it will be highly sought after to support the demand for residential investment opportunities.”