Hope Capital, the short term lending and bridging finance house, has announced a new range of bridging loans. This latest offering is designed for customers looking to undertake property refurbishments.
Three new products make up the range; Refresh for small upgrades, Renew for refurbishment and repairs and Renovate for larger projects.
For unregulated residential property, LTVs of up to 75% are available and 100% funding for 6-18 month loan terms. Borrowers in both England and Wales can access rates from 0.69% on residential property loans, up to a maximum of £3m.
Gary Bailey, managing director at Hope Capital, commented: “There is definitely a strong demand for refurbishment bridging loans, even more so in the current climate, when investors are increasingly looking at refurbishment and development opportunities, to either improve the property, increase yield or for capital gain.
“Property refurbishment finance can be used for a wide range of requirements, from light internal redecoration, through to large extensive projects or change-of-use projects, and are ideal for those who do not have the additional funds needed, however are looking to improve their property and therefore add value.
“We are looking forward to supporting our partners and clients with these options and continuing to deliver the same exceptional service.”
Original article featured here…
This follows last year’s extension of Hope Capital’s Seventies Collection.