Specialist short-term lender, Hope Capital, has announced a significant enhancement to its residential refurbishment offering by providing up to 80% loan-to-value (LTV) loans to brokers and borrowers.
This new development allows borrowers to receive approximately 15% more funding on their initial borrowings, presenting a valuable opportunity for investors and developers to optimise cash flow and maximise returns on their projects.
The key aspects of Hope Capital’s latest enhancement include the availability of 80% LTV on a rolled interest basis, up to 70% loan-to-gross-development-value (LTGDV), fixed rates starting from just 0.99%, loan terms of up to 12 months, and a focus on residential properties as well as medium and heavy refurbishment projects.
Roz Cawood (pictured), director of sales at Hope Capital, said: “Being able to receive up to 15% more on Day 1 is an extremely appealing proposition and an option which is very rare to find in the market, which is why we feel very confident this will be significant in supporting our brokers and their clients.”
Additionally, for borrowers looking to convert semi-commercial or commercial properties to residential assets, Hope Capital is offering competitive LTV and GDV rates with fixed rates starting from 1.09% across both property types.
Cawood added: “We fully recognise that while there are many challenges in the current market, there are still a significant number of borrowers who are hungry to find competitive options to enable them to take advantage of investment opportunities.
“This is why we will continue to be at the forefront of the market, ensuring we are creating solutions so this can be achieved.”
The latest enhancement also aligns with Hope Capital’s fixed-rate option, the Hope Guarantee, which ensures borrowers’ rates remain fixed for the term of their loan, provided there are no material changes to the application or loan, regardless of any market changes.
