Specialist lender Hope Capital has announced its largest rate drop yet, introducing flat rates across its bridging range.
Previously, rates varied based on the deal and the level of works, but the new structure allows one rate to apply to various projects, including different refurbishment types.
The rates apply to loan amounts from £100,000 to £5m for terms of three to 18 months across England, Wales, and Scotland.
Residential bridging loans at 75% loan-to-value (LTV) are now 0.92%, down from 0.99%.
Semi-commercial bridging loans at 70% LTV have decreased from 1.19% to 1.05%; and commercial bridging loans at 65% LTV fell from 1.25% to 1.09%.
Hope Capital’s new rates come with features such as instant valuations up to 75% LTV, dual representation, and no exit fees, depending on the deal type.
Kim Parker (pictured), head of sales at Hope Capital, said: “Hope Capital are kickstarting 2025 as we mean to go on.
“We ended the year following the acquisition of a new multi-million-pound facility from Shawbrook Bank, as well as achieving our most successful quarter to date.
“Not only is this the biggest rate reduction we’ve ever made, but it’s also one which revolutionises our offering altogether.
Parker added: “We appreciate there is nothing more frustrating than lenders who say, ‘rates from’.
“Our new offering is clear, without any misleading jargon, so brokers immediately know what their clients can benefit from in terms of rates and LTVs.
“Not forgetting the cost effectiveness of having access to a single rate, which we anticipate will be particularly advantageous to support the level of medium refurbishment enquiries we receive.
“With the Bank of England’s unpredictable rate cycle, we want to ensure we’re creating opportunities for our borrowers to utilise short-term lending to capitalise from their investment plans.”
