Specialist short-term lender Hope Capital has launched its Eighties Collection, which comprises two bridging loan products.
Specialist short-term lender Hope Capital has launched its Eighties Collection, which comprises two bridging loan products.
This includes the Hope 80 and the Hope 84, which are bridging loans designed for mixed-use property.
The Eighties Collection follows the launch of the Seventies Collection in September 2020.
The Hope 80 offers borrowers a rate of 0.80% per month on loans up to £800,000 and has a maximum 60% LTV.
The Hope 84 provides borrowers with a higher LTV of 65%, with a rate of 0.84% for loans up to £650,000 on mixed-use properties.
According to the lender, the Eighties Collection products are ideal for investors who are looking to purchase, renovate or re-bridge on a property that has both an element of residential use and of commercial use also.
Property of this type can generate strong yields and bring an element of diversification to a portfolio.
Both products will be available throughout England and Wales for a maximum loan period of 12 months to individuals and companies.
The products have various repayment options on both products, retained, serviced or part retained & part service depending on the needs of the borrower.
The Eighties Collection products are suitable for semi-commercial properties and require a full valuation in order to determine the present value of the property against which the loan will be secured.
Sinead Moynihan, sales director at Hope Capital, said: “At Hope Capital, we have a significant range of knowledge and experience handling cases for semi-commercial property, which is paramount for brokers and their clients, who are looking to find a deal and service which can meet their needs.
“We believe it is essential in the current climate to place a real focus on offering new innovative products which offer flexibility and affordability for the borrower.
"We are looking forward to supporting our partners and clients with these options and continuing to deliver the same exceptional service which we are renowned for.”
Nick Stettner, director at Kinetic Money, said: “The Eighties Collection is a fantastic product range, which will provide affordable and flexible options for our clients, who are seeking a bridging loan as a way to achieve their property ambitions.
"We have an outstanding relationship with Hope Capital and look forward to working closely with the team, to offer what is no doubt going to be a highly desirable option for our clients.”
The launch of the Eighties Collection follows the recent release of the Refurbishment Range, which the lender reports has received a significant number of enquiries from brokers and their clients, who are looking for fast, tailored and personalised loans.
