Hope Capital Property Finance has introduced a further round of criteria enhancements to its bridging finance offering, building on recent improvements to its residential proposition, expanded institutional funding capacity and reduced Max Net pricing.
The changes are designed to give brokers greater flexibility, faster completions and a more streamlined lending experience across its wider specialist lending range.
The latest enhancements focus on widening access to key features, simplifying processes and supporting more borrowers through a broader range of lending scenarios. They include:
- below market value transactions, with lending now available up to 75% of open market value, subject to full valuation
- instant valuations on qualifying residential cases up to £1 million, doubling the previous £500,000 limit and helping to speed up completion times
- dual legal representation, with the threshold increased from £750,000 to £1 million and now also available in Scotland
- refurbishment funding forward funded in tranches, giving borrowers greater flexibility around project cash flow while maintaining appropriate monitoring controls
- a reduced minimum loan size, down from £100,000 to £50,000, opening the proposition to a wider range of borrowing requirements
"These enhancements represent a further step in our exciting journey as we continue to evolve our proposition and deliver greater value, flexibility and certainty for brokers and borrowers," said Kim Parker, director of lending operations and commercial strategy at Hope Capital Property Finance (pictured).
"By combining competitive rates with improved criteria and a range of key features, we are making it easier for borrowers to access the funding they need and complete their projects with confidence.
"Our proposition continues to provide practical solutions for the specialist property market, including up to 100% of build costs covered, full title insurance, no upfront legal undertaking, dual representation available up to £1 million and no exit fees. These latest enhancements demonstrate our ongoing commitment to listening to brokers, removing barriers and creating a proposition that supports more successful outcomes."
Kate Cowan, chief financial and operating officer at Hope Capital, said the improvements are underpinned by the strength and stability of the lender's funding structure. "Underpinning these improvements is the strength and stability of our funding structure, which continues to support our ability to develop our proposition as the market evolves," she said.
"We remain focused on listening to broker feedback and identifying opportunities to enhance the service and solutions we provide.
"With the strength of our new funding lines and further internal operational efficiencies, we have been able to pass on savings to borrowers while maintaining our disciplined, consistent lending approach."
The enhanced proposition is available on loan amounts from £50,000 to £5 million, across England, Wales and Scotland, for terms of three to 18 months. Updated pricing includes:
residential, including light, medium and heavy refurbishment cases: 75% LTV at 0.82%, down from 0.85%
Max Net residential deals: 75% LTV at 0.87%, down from 0.89%
Max Net semi-commercial: 70% LTV at 0.89%, down from 0.99%
Max Net commercial: 70% LTV at 0.92%, down from 0.99%
