New product offers lowered rates and high LTVs for borrowers with strong credit histories
Specialist short-term lender Hope Capital has launched a new loan product tailored for borrowers with strong credit histories, featuring lower rates on its residential lending options.
The clean credit loan offers competitive pricing for eligible borrowers, with rates starting at 0.89% for up to 70% loan-to-value (LTV) and 0.91% for up to 75% LTV. These rates reflect reductions of up to five basis points from the lender’s current offerings.
The loan is designed to fund light works on residential properties valued at up to £750,000. Borrowers must meet Hope Capital’s automated valuation model (AVM) and desktop valuation criteria, with title insurance required for all loans.
To qualify, borrowers must have a good or excellent credit rating, reside in the UK, and own at least one other UK asset. They must have no county court judgements (CCJs) or missed mortgage payments in the past 24 months, no history of bankruptcy or individual voluntary arrangements (IVAs), and no rolling arrears.
Kim Parker, head of sales at Hope Capital, said the move was aimed at supporting borrowers amid recent shifts in the interest rate environment.
“Following the Bank of England’s recent interest rate cut, we wanted to inject a little more momentum into the market, providing a fantastic opportunity for our borrowers with clean credit to capitalise on very competitive rates complemented by high LTVs,” Parker said.
“Our offering is extremely versatile, providing a host of options across our product range for all types of borrowers and their individual circumstances. Having this extremely competitive offering now available, we are confident it will be highly sought after to support the demand for residential investment opportunities.”
The product launch follows recent changes at Hope Capital, including the appointment of David Weir and Sam Lea as national account managers in a sales team restructure.
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
