Hope Capital has launched the Seventies Collection — which includes two new bridging loan products.
HOPE 70 offers the lender’s lowest non-discounted rate of 0.70% per month and up to 70% LTV on unregulated residential property up to £770,000.
HOPE 75 provides a 75% LTV with a rate of 0.75% for residential properties up to £575,000.
The two new products will be available throughout England and Wales for a loan period of up to 12 months for both individuals and companies.
The loans will be available on a first-charge basis.
Hope Capital has ringfenced funds for the seven-week offer.
The Seventies Collection will be available for new enquiries that complete by 23rd October, with funds being allocated on a first-come, first-served basis.
Gary Bailey, managing director at Hope Capital (pictured above), said: “We have seen a recent surge in demand for good value bridging loans for residential property.
“We anticipate the Seventies Collection will meet this market demand and be particularly useful for securing immediate funding while mainstream lenders are unable to meet the needs of borrowers in the timeframes they require to seize the opportunities.
“All [of] our new products are designed to provide innovative solutions which offer flexibility and affordability for the borrower.”
The Seventies Collection can be used alongside elements of the recently launched Custom Collection, which comprises six different products, features and options.
Source: Bridging & Commercial, September 03 2020.