Hope Capital has launched a clean credit loan, tailored for borrowers with good or excellent credit.
The lender made significant rate reductions in its residential offering; borrowers who fit into the criteria can now benefit from either 75% loan-to-value (LTV) at 0.91% or 70% LTV at 0.89%, providing up to a 0.05% decrease from its current offering.
Designed for light works on residential projects with a value up to £750,000, loans must fall under the lender’s automated valuation model (AVM) and desktop valuation criteria and title insurance is required.
To qualify, borrowers will: have good or excellent credit rating, reside in the UK, have at least one other UK asset, no County Court Judgements (CCJs) in 24 months, no missed mortgage payments in 24 months, no bankruptcy or IVA’s, and no rolling arrears.
Kim Parker (pictured), head of sales at Hope Capital, said: “Following the Bank of England’s recent interest rate cut, we wanted to inject a little more momentum into the market, providing a fantastic opportunity for our borrowers with clean credit to capitalise from very competitive rates complimented with high LTVs.
“Our offering is extremely versatile, providing a host of options across our product range for all types of borrowers and their individual circumstances.
“Having this extremely competitive offering now available, we are confident it will be highly sought after to support the demand for residential investment opportunities.”
