Hope Capital secures £25m funding line with Shawbrook Bank
Specialist short-term lender Hope Capital has secured a facility delivering up to £25m in funding from Shawbrook Bank.
This is the latest funding line acquired by the lender, as it looks to develop its proposition and achieve further growth.
Hope Capital provides options across residential, semi-commercial, commercial and land projects; rates start from 0.89%, with up to 75% loan-to-value (LTV) available across England, Wales and Scotland.
Kate Cowan, chief financial officer at Hope Capital, said: “The provision of this new funding is extremely well timed to support our growth plans.
“We’re now in an even better position to help our brokers and borrowers who are looking for tailored bridging loans, which sets us up ideally as we look to our strategy for 2024.”
Hope Capital reported that Q3 was its most successful quarter since it was established in 2011.
The firm recorded a 100% increase in its loan book compared with 2022 Q3, and a 19% increase versus 2023 Q2.
Kate said: “We’re experiencing an extremely successful period, with significant growth in enquiries and completions.
“To have Shawbrook join our funding panel will be instrumental and we’re very grateful to their team for this fantastic opportunity.”
Warren Mutch, head of speciality finance at Shawbrook, added: “We’re delighted to be supporting Jonathan, Kate and the team at Hope.
“The business is highly regarded in its market and well positioned for growth, and our committed funding line is targeted to support them into 2024 and beyond.”