Hope Capital has unveiled a new residential bridging loan designed to give borrowers greater liquidity upfront, enabling them to purchase property and begin refurbishment works without delay.
The product offers 75% net at a rate of 0.95%, with works forward-funded throughout the loan term.
According to the lender, the structure is aimed at providing borrowers with the confidence and cashflow to move quickly and complete refurbishment projects efficiently.
The loan is available for purchase, refinance and capital raise with works, and is open to projects involving light, medium and heavy refurbishments.
Key features include loans from £100,000 to £5 million, coverage of up to 100% of build costs, and refurbishment funds released on the same day as the monitoring agent’s report, whether carried out remotely or in person.
The product also offers up to 70% gross development value (GDV), flexible payment options, terms ranging from three to 18 months, and no exit fees.
Borrowers may also benefit from instant or desktop valuations for light works, full title insurance, electronic KYC and AML verification, and dual legal representation for loans up to £750,000.
Kim Parker, head of sales at Hope Capital, said: “In today’s market, speed and certainty are more important than ever.
“Our new 75% Net product is built for clients who need maximum upfront liquidity, and the assurance that they can access it without delay.
“For borrowers embarking on refurbishment projects, having funds available from day one is crucial, not just for the purchase, but to get works underway immediately.
“That’s exactly what this product delivers, and we’re excited to bring it to market.”
