Hope Capital has launched a flexible fees feature to its bridging products, aimed at borrowers who require zero lender arrangement fees, reduced valuation fee options or no upfront solicitors’ costs.
The feature is designed for borrowers who need to manage their cashflow and require the highest possible amount on day one of the loan.
The flexible fees feature provides a 0% option on the lender arrangement fee, options for reduced valuation fees and no upfront solicitors costs.
By removing and reducing these costs, the broker can provide their client with a more flexible and affordable loan.
The zero lender arrangement fee is available solely on serviced or part-serviced loans with minimum loan terms applying.
Reduced valuation fees and no upfront solicitors’ undertakings are available across both serviced and interest-retained loans upon receipt of the application.
Brokers will continue to receive their full procuration fee on completion, irrespective of which option the borrower chooses.
This move is part of the Hope Capital Custom Collection which comprises six different products, features and options.
Gary Bailey, managing director of Hope Capital, said: “The new flexible fees product feature forms part of the Custom Collection and gives customers the option of having more funds on day one and lower initial outgoings.
“This flexibility can make the difference between a loan being affordable and working for the borrower, or not.
“Right now, we’re placing a real focus on offering new innovative products which offer flexibility and affordability for the borrower.”