Hope Capital the short term lending and bridging finance house, has 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.
General rates available in Scotland have been revised to align with those for England and Wales, now starting from 0.70% for non-discounted and from 0.39% for discounted rates. Maximum LTVs have been raised across all property types, now at 75% for residential, 70% for mixed use and 65% for commercial.
Hope Capital has also made the light refurbishment range and the seventies and eighties collections available in the country.
Gary Bailey, Managing Director of Hope Capital, commented: “It was announced earlier this year that we had entered the Scottish market. Since then, Hope Capital has experienced a consistent high level of enquiries from Scotland, which is why we are confident these product improvements will be well received.
By providing lower rates, higher LTVs and more product options, we are now even better positioned to offer more innovative and affordable solutions, which will enable brokers and borrowers to be ideally placed to take advantage of new residential, mixed-use and commercial opportunities in Scotland.”
Original article featured here…
Hope Capital recently announced a new finish and exit bridging loan product. Rates start from 0.70% per month up to 75% LTV on the product, which is suitable for projects where the development is still in progress.