Hope Capital is now providing flat rates across its bridging range following its largest price drops to date.
Until now, the short-term lender’s rates were priced depending on the specific deal and the level of works. Its new offering means a single rate can be applied to benefit a range of projects, including structural and non-structural light, medium and heavy refurbishment cases.
Hope Capital says it has introduced this simplified process for “greater transparency” and “easier decision-making”, to hopefully lead to quicker turnarounds.
The new offering is available on loan amounts between £100k – £5m, across England, Wales and Scotland for a term of 3-18 months. Details are as follows:
- Residential bridging loans at 75% LTV: Was 0.99%, now 0.92%
- Semi-commercial bridging loans at 70% LTV: Was 1.19%, now 1.05%
- Commercial bridging loans at 65% LTV: Was 1.25%, now 1.09%
Hope Capital offers “instant” valuations up to 75% LTV, dual representation and no exit fees, depending on the type of deal.
Kim Parker (pictured), head of sales at Hope Capital, said: “Hope Capital are kickstarting 2025 as we mean to go on. We ended the year following the acquisition of a new multi-million-pound facility from Shawbrook Bank, as well as achieving our most successful quarter to date.
“Not only is this the biggest rate reduction we’ve ever made, but it’s also one which revolutionises our offering altogether. We appreciate there is nothing more frustrating than lenders who say, ‘rates from’. Our new offering is clear, without any misleading jargon, so brokers immediately know what their clients can benefit from in terms of rates and LTVs.
“Not forgetting the cost effectiveness of having access to a single rate, which we anticipate will be particularly advantageous to support the level of medium refurbishment enquiries we receive.
“With the Bank of England’s unpredictable rate cycle, we want to ensure we’re creating opportunities for our borrowers to utilise short-term lending to capitalise from their investment plans.”
