Hope Capital has launched its lowest ever interest rate for the month of June 2019, with rates on bridging loan applications from 0.69% per month on loans of up to £5m.
These will apply to residential, retail, commercial properties and land. Borrowers can use the loans for property purchase, refinance and an array of other business purposes, including debt consolidation and covering cashflow.
Gary Bailey, managing director of Hope Capital, said: “As part of our growth plans, we’ve recruited more great talent, with BDMs now covering all parts the country; we have also reviewed our pricing model. As a result, we are launching our lowest ever rate.
“This, when coupled with our service excellence, we believe will generate more opportunities and completions for brokers.
“With our common-sense approach to underwriting we’ll continue to cater for today’s norm and simplify the complex.
“Brokers placing cases with Hope Capital will continue to enjoy the quick turnaround times, direct access to underwriters and complete cost transparency that Hope Capital has become well known for, as well as new competitive rates.”
Russell Martin, managing director of Finance 4 Business, added: “These lower rates from a lender such as Hope Capital, who has a reputation for exceptional service, are very welcome in a competitive bridging loan marketplace.”
Hope Capital recruited four business development managers last month, to help support and educate their broker partners.
Terms aim to be offered within one hour of the loan application and brokers will continue to have direct access to underwriters and senior decision makers.