Hope Capital
, the short term lending and bridging finance house, has extended the availability of its Seventies Collection. These two revamped bridging loan products were introduced for a limited time only at Halloween.
HOPE 725 and HOPE 75 were introduced exclusively for new enquiries made before the end of November, but have been extended until the end of the year due to high demand.
HOPE 725 provides Hope Capital’s lowest non-discounted rate of 0.725% per month and up to 72.5% LTV on unregulated residential property for loans up to £725,000.
HOPE 75 is a bridging loan with the lender’s highest LTV at 75% with a reduced monthly rate of 0.74% for residential properties and loans up to £575,000.
Both products are available for a loan period of up to one year, to individuals and companies throughout England and Wales, on a first charge basis.
These loans can be used by borrowers in a variety of situations from a straightforward purchase, an auction buy, with or without light refurbishment or to chain-break a mortgage. Another use is to give the borrower additional time to find a longer-term finance solution, by refinancing existing debt.
The Seventies Collections can be used alongside the Custom Collection, featuring six different products, features and options. Brokers can pick the options and features best suited to their client’s needs to create a customised loan.
Gary Bailey, Managing director of Hope Capital, said: “We are delighted with the feedback and response we have received from the initial launch of the enhanced Hope 725 and Hope 75 bridging loan products.
“Providing affordable and flexible solutions to meet the diverse needs of our clients is at the core of what we do. This is why we made the decision to continue these two fantastic products until the end of the year, so we can meet the market demand.”
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