Hope Capital has announced it will be treating brokers and borrowers early this Christmas, by extending the availability of the revamped Seventies Collection products, until 2021.
The two bridging loan products, the Hope 725 and Hope 75, were revised in October for a limited time only, however owing to the high demand, Hope Capital has made the decision to extend the deals.
The Hope 725 offers the lender’s lowest non-discounted rate of 0.725% per month and up to 72.5% LTV on non-regulated residential property with a loan up to £725,000.
The Hope 75 bridging loan has an LTV of 75% with a reduced rate of 0.74% per month for residential properties with a loan up to £575,000.
The two innovative products will be available throughout England and Wales for a maximum loan period of up to 12 months to individuals and companies and will be available on a first charge basis.
Both products are aimed at those who are looking ahead at their investment plans and seeking supportive and unrivalled bridging finance solutions for 2021.
Borrowers can use the loans for property purchases in a range of situations from a straightforward purchase to buying at auction.
Additionally, the loan can be used to refinance existing debt and give the borrower time to put in place a longer-term finance solution.
The Seventies Collection can be used alongside elements of the Custom Collection which comprises six different products, features and options.
By picking the options and features that best suit the client’s circumstances and needs, brokers are able to offer their clients a loan that is truly customised.
Gary Bailey, managing director, Hope Capital, said:
“We are delighted with the feedback and response we have received from the initial launch of the enhanced Hope 725 and Hope 75 bridging loan products.
Providing affordable and flexible solutions to meet the diverse needs of our clients is at the core of what we do.
This is why we made the decision to continue these two fantastic products until the end of the year, so we can meet the market demand.”