Hope cuts rates and expands Scottish offering

Jessica Bird

November 16, 2021

Hope Capital has extended a number of its bridging finance products to enhance its offering in Scotland.

The changes include increasing the maximum loan amount from £1m to £5m, and reducing rates by up to 0.26%.

Hope Capital’s general rates available in Scotland have also been updated, aligning to the firm’s proposition in England and Wales, with non-discounted rates being from 0.70% and discounted rates starting from 0.39%.

Hope Capital has also made its Seventies Collection for residential property and Eighties Collection for mixed-use and commercial property available in Scotland.

The maximum loan-to-values (LTVs) across all property types have also increased, with the max LTV now being 75% on residential, 70% on mixed-use and 65% on commercial.

The firm has also confirmed that it will accept light refurbishment deals on Scottish properties, previously only available in England and Wales.

The Refurbishment Range consists of two products, with rates starting from 0.80% and up to 75% LTV.

Refresh is designed for a property which requires relatively minor upgrades, and Renovate is suitable for more extensive and advanced projects involving structural work.

Brokers with light refurb cases can now contact Hope Capital about the range, with medium refurb cases being available by referral.

Gary Bailey, managing director of Hope Capital, said: “It was announced earlier this year that we had entered the Scottish market.

“Since then, Hope Capital has experienced a consistent high level of enquiries from Scotland, which is why we are confident these product improvements will be well received.

“By providing lower rates, higher LTVs and more product options, we are now even better positioned to offer more innovative and affordable solutions, which will enable brokers and borrowers to be ideally placed to take advantage of new residential, mixed-use and commercial opportunities in Scotland.”

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