Hope Capital
, the short term lending and bridging finance house, has announced two revamped bridging loan products as a special version of its Seventies Collection just for Halloween.
HOPE 725 and HOPE 75 are available for new enquiries made before the end of November.
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 these new 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 which was recently launched, 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.
Hope Capital managing director Gary Bailey said: “We have experienced huge demand for the Seventies Collection and have improved the products as a Halloween treat for brokers.
“We anticipate these updated products will meet this market demand. They will be particularly useful for securing immediate funding whilst mainstream lenders are unable to meet the needs of borrowers, in the time frames 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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Hope Capital also recently announced an upgrade to its service with the addition of Nivo ID verification and messaging to speed up the underwriting process and enhance customer experience.