Hope Capital has announced a rate reduction on its residential fast-track bridging product, now offering loans at 0.85% up to 75% LTV.
The update applies to residential transactions including purchases, auction deals and light refurbishments involving non-structural works.
The lender has also increased the upper limit for dual legal representation to £750,000, up from £500,000.
The change is intended to allow more borrowers to benefit from reduced legal costs and quicker completions.
This development follows a period of strong performance for the short-term lender. Hope Capital recently launched a dedicated residential fast-track team, streamlined its pricing structure, and reported a 15.6% growth in its loan book within two months earlier this year.
Kim Parker, head of sales at Hope Capital, said: “Our focus remains on delivering clarity, speed, and flexibility to our broker partners and their clients.
“By offering a reduced, flat rate of 0.85% for our residential fast-track offering, we’re reinforcing our commitment to providing market-leading solutions tailored to a wide variety of borrower needs.”
The fast-track range includes features such as electronic KYC and AML checks, no upfront legal undertaking, full title insurance, and the potential for instant valuations at no cost to the borrower.
Loans are available from 3 to 12 months with no exit fees and only on a first-charge basis.
