Rates of bridging deals now start from 0.85%
Short-term lender Hope Capital has announced rate cuts to its residential bridging loan offerings, alongside enhancements to internal processes.
Effective immediately, rates of all bridging deals in the lender’s residential range, including light refurbishment cases, now start from 0.85%, providing up to 75% loan-to-value (LTV) on properties valued up to £5 million.
Rates of medium refurbishment cases start from 0.92% while those of heavy refurbishment cases begin at 0.97%.
“We are pleased to further strengthen our residential bridging loan offering, with these significant rate reductions,” Jonathan Sealey (pictured), chief executive at Hope Capital, said. “While the Bank of England made the decision to retain interest rates for the fourth consecutive time on the bounce, we are delighted to be in a position to reduce our rates to support our brokers and borrowers with affordable options.
“Our enhanced offering will be supported by the developments we have introduced internally, which means we are now in an even better position to support brokers and borrowers.
“Owing to the resilience and hard work of the team, coupled with the excellent service we are renowned for, 2023 delivered results well beyond all expectations. We are currently witnessing a surge in enquiries coming through the door, so it is fantastic to see market confidence is beginning to restore. However, it is paramount there are affordable options made available to support those who are looking to capitalise on investment opportunities.”
To promote its latest offerings, Hope Capital will launch a social media campaign in the coming weeks, providing updates via Twitter and LinkedIn.
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