Hope Capital has launched a residentially bridging loan product, specifically designed to improve borrowers from the first day.
The product offers 75% net at only 0.95%, with works that are financed during the loan period. This gives borrowers the cash flow to implement their renovation projects up to and including completion.
Product details include: residential bridge loans that are available for purchase, refinancing and capital increase with work; 75% net at 0.95% on light, medium and heavy works; 70% gross development value (GDV); Loans from £ 100k – £ 5 million. Up to 100% construction costs covered and renovation funds released on the same day that the report from the monitoring agent is received, whether it is carried out remotely or personally.
Full title insurance, no prior legal enterprise available up to £ 1 million; No exit costs, flexible payment options and a period of 3-18 months.
Respond to the launch Hope Capital Head of the Kim Parker Sales said: “Our new net product of 75% is built for customers who need maximum liquidity in advance, and the certainty that they have access to it without delay. For borrowers that go to Budrop projects, funds are available from the day one, not only for the purchase, but to get started immediately.