It aims to support borrowers on their large loans
Specialist short-term lender Hope Capital has reduced rates on all deals over £1 million to enable borrowers to get significant savings on their large loans.
The offer, which will save a borrower at least £360 per month on a £1.2 million loan, for example, is being applied across the entire Hope Capital product range.
The lender has been making various improvements to its product line in recent months to support brokers and their borrowers in the current economic climate.
Hope Capital recently launched its 80% loan-to-value (LTV) offer on medium and heavy refurbishment projects. It is once again responding to feedback, this time, from brokers who are seeking a more competitive proposition on larger value deals and looking to receive maximum funding on their Day 1 borrowing.
“The reason we are able to make this significant reduction in price is owing to the level of business we are receiving,” Roz Cawood (pictured), director of sales at Hope Capital, said. “We feel very positive that by reducing rates on large loans, we will propel our proposition even further.”
Cawood stated that the latest enhancement complemented the lender’s fixed rate scheme, the Hope Guarantee, where borrower’s rates were being fixed for the term of their loan, as soon as Hope Capital’s solicitors had been instructed, provided there were no material changes to the application or loan.
“With the impending rate rise on the horizon, having a fixed option like this will be vital in ensuring borrowers can capitalise on investment opportunities,” she added. “At Hope Capital, our combination of competitive rates, flexibility from the get-go and fantastic service ensures we can carve out success in this area as we look to continue to increase our levels of high-net-worth business.
“Hope Capital’s bridging range provides up to 80% LTV and caters for loans between £50,000 and £5 million across England, Wales, and Scotland. The lender can provide solutions across residential, semi-commercial, commercial and land deals with or without planning permission, for a term up to 24 months.”
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