This new offering provides facilities up to £750,000. The product is available for properties worth up to £1m, with the maximum LTV at 75% .
Hope Capital will be lending based on an open market valuation (OMV) as part of this offer, across residential, commercial and mixed-use property types.
The lender will also accept AVMs up to £750,000 and for residential properties (up to £1m), desktop valuations will be accepted.
Roz Cawood, director of sales at Hope Capital, commented: “As we once again face an uncertain period within the economy, we wanted to provide some additional festive support and a brand-new opportunity as we enter the new year.
“The LOANS fast track bridge offering reflects everything we stand for at Hope Capital: delivering innovative, flexible, tailored solutions quickly and efficiently, which cater for the requirements of different borrowers, their individual circumstances and their level of borrowing.
“The decision to now accept OMVs was made to increase our competitiveness as we head into 2022. This will also support borrowers who are looking to achieve their investment and business goals going forward.
“This new offer is suitable for all property types and is a highly competitive bridging loan facility. As we understand speed is of the essence, we will also lend based on AVMs and desktop valuations, making borrowing significantly faster and more accessible for customers.”
Original article featured here…
Last month, Hope Capital enhanced its bridging finance suite for Scotland, which was introduced earlier this year. The lender has reduced rates, raised maximum LTVs and increased the maximum loan amount to £5m, from the previous £1m limit.