Hope Capital launches customisable range of bridging loans

Jessica Bird

May 28, 2020

Gary Bailey Hope Capital loans

Hope Capital has launched a range of six bridging loan products, features and options which can all be used by borrowers to create personalised loans.

The Custom Collection has been designed for those who want to effectively manage cashflow and optimise their day-one loan amount by balancing the amount borrowed, rate, loan-to-value ratio (LTV), fees and an affordable payment.

All parts of the Hope Capital collection are specifically for loans secured on residential property.

A central part of the Custom Collection is the range of mini, midi and maxi loan sizes to choose from, each with a range of rates and LTVs.

Hope Capital is now able to offer its smallest loan to-date within its mini loan range.

The lender is also offering borrowers the option of a discounted rate loan whereby the initial six months is at a reduced rate.

The Hope FleXi loan is a part-serviced and part-deducted loan.

Borrowers can not only service the loan while having some of the interest retained, but also spread interest payments on the serviced part across the entire term of the loan.

This means that the monthly interest payments are significantly reduced for the borrower, potentially by over 90%.

The Hope Combi Loan combines the Hope Flexi with the Discounted Rate Loan and a payment holiday period.

It is suitable for customers wanting to optimise the loan amount they receive on day one and service their loan, but who need a payment holiday for a period during the loan term.

In addition to the payment holiday, the borrower can have a discounted rate for the first six months.

The whole Custom Collection can be utilised in multiple combinations across standard loans, serviced loans and part-and-part loans, to create a customised product.

One feature of the collection is the option for a 0% lender arrangement fee and no upfront solicitors’ costs.

These options help affordability by reducing the initial outlay on the loan.

Hope Capital is also now accepting a range of valuation types.

Having previously required a full valuation, in many circumstances the lender is now able to lend based on automated valuation models (AVMs), drive-bys or desktop valuations.

Gary Bailey, managing director of Hope Capital, said: “We’re excited to have created the Custom Collection for our brokers and borrowers.

“In the current market, we believe it is more important now than ever to provide tailored products which prioritise affordability and flexibility to meet the needs of the customer.

“As always with Hope Capital, we aim to offer the utmost flexibility and speed whilst being transparent throughout the process.”

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