Hope Capital has announced its biggest ever rate drop, now providing flat rates across its bridging range.
Previously the lenders rates were priced depending on the specific deal and the level of works, however the new offering means a single rate can be applied to a multitude of projects, including structural and non-structural light, medium and heavy refurbishment cases.
The new offering is available on loan amounts between £100k – £5m, across England, Wales and Scotland for a term of 3-18 months: offers include residential bridging loans at 75% LTV: previously 0.99%, now 0.92%; semi-commercial bridging loans at 70% LTV: previously 1.19%, now 1.05%; and commercial bridging loans at 65% LTV: previously 1.25%, now 1.09%
Commenting on the new rates Hope Capital head of sales Kim Parker said: “Not only is this the biggest rate reduction we’ve ever made, but it’s also one which revolutionises our offering altogether. We appreciate there is nothing more frustrating than lenders who say, ‘rates from’. Our new offering is clear, without any misleading jargon, so brokers immediately know what their clients can benefit from in terms of rates and LTVs.”
“Not forgetting the cost effectiveness of having access to a single rate, which we anticipate will be particularly advantageous to support the level of medium refurbishment enquiries we receive.”