Hope Capital has made substantial revisions to its residential product criteria, significantly reducing rates and improving internal processes to enhance efficiency.
The lender now offers residential rates from 0.85%, available up to 75% LTV for properties valued up to £5m.
This announcement comes in the wake of the Bank of England’s decision to maintain interest rates at 5.25%.
The rate adjustments span Hope Capital’s residential lending spectrum, with rates for all bridging deals, including light refurbishment cases, starting at 0.85%.
Medium and heavy refurbishment projects see rates beginning from 0.92% and 0.97%, respectively.
Jonathan Sealey, CEO of Hope Capital, expressed the company’s commitment to providing competitive options for its clients: “We are pleased to further strengthen our residential bridging loan offering, with these significant rate reductions.
“While the Bank of England made the decision to retain interest rates for the fourth consecutive time on the bounce, we are delighted to be in a position to reduce our rates to support our brokers and borrowers with affordable options.”
In light of its most successful year, Hope Capital aims to leverage its achievements by enhancing its operational frameworks, ensuring quicker application and deal processing.
Sealey emphasised the impact of these internal improvements: “Our enhanced offering will be supported by the developments we have introduced internally, which means we are now in an event better position to support brokers and borrowers.”
