Hope Capital has announced the launch of two new bridging loan products at 70% and 75% LTV.
The lender’s ‘Seventies Collection’ includes the HOPE 70 product which offers a rate of 0.70% up to 70% LTV on non-regulated residential properties up to £770,000, while the HOPE 75 bridging loan has an LTV of 75% with a rate of 0.75% for residential properties up to £575,000.
The two products will be available throughout England and Wales for a loan period of up to 12 months, both to individuals and companies. The lender also suggested the loan can be used to refinance existing debt and give the borrower time to put in place a longer-term finance solution.
Hope Capital managing director, Gary Bailey, commented: “We have seen a recent surge in demand for good value bridging loans for residential property.
“We anticipate the Seventies Collection will meet this market demand, and be particularly useful for securing immediate funding whilst mainstream lenders are unable to meet the needs of borrowers in the timeframes they require to seize the opportunities.
“All our new products are designed to provide innovative solutions which offer flexibility and affordability for the borrower.”
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