It aims to further speed up transactions
Specialist short-term lender Hope Capital has expanded its dual representation policy to include all deals involving residential, semi-commercial, and commercial properties.
Dual representation allows a single solicitor to represent both the lender and the borrower, which can reduce costs for borrowers and expedite the transaction process by streamlining communication. Previously, the lender offered dual representation only for residential auction transactions.
Hope Capital said the change is part of its ongoing efforts to enhance service efficiency and affordability. The lender also provides free automated valuation models (AVMs) and desktop valuations within 48 hours to support brokers in securing faster transaction completions for their clients.
💥 What’s new to the game 💥
— Hope Capital (@HopeCapital) April 29, 2024
​Dual representation is now available across residential, semi-commercial, and commercial property types for NEW and EXISTING clients. pic.twitter.com/uXGVCGHGaV
“Speed, affordability, and a streamlined process is what is expected when opting for a bridging loan,” said Kim Parker, head of sales at Hope Capital. “This is a key step forward to ensure we can facilitate transactions in an even quicker manner, while also helping our borrowers make significant cost savings.
“Having already utilised dual representation with a number of our solicitor partners, we’re looking forward to supporting even more borrowers with this moving forward.”
Laura Carr, head of underwriting at Hope Capital, added that the enhancement simplifies the legal process under the right circumstances.
“We’ve established some fantastic relationships with solicitor firms over the years, who have a lot of experience providing joint legal advice,” she said. “We look forward to working alongside them to continue to deliver the outcome our clients are looking for.”
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