Building on recent enhancements to its residential proposition and reduced Max Net pricing, Hope Capital Property Finance has introduced a series of criteria improvements designed to provide brokers with greater flexibility, faster completions and a more streamlined lending experience across its wider specialist lending offering.
Hope Capital will now consider lending up to 75% of open market value (OMV), subject to full valuation, and instant valuations are now available on qualifying residential cases up to £1 million, doubling the previous £500,000 limit.
The threshold for dual legal representation has increased from £750,000 to £1 million, with dual representation now also available in Scotland.
For refurbishment, works can now be forward funded in refurbishment tranches, providing greater flexibility around project cash flow while maintaining appropriate monitoring controls.
The minimum loan size has also reduced from £100,000 to £50,000, opening the proposition to a wider range of borrowing requirements.
The enhanced proposition is available on loan amounts from £50,000 to £5 million, across England, Wales and Scotland, for terms of 3 to 18 months.
In addition, Hope Capital has updated pricing across its range. For residential lending, including light, medium and heavy refurbishment cases, rates now start from 0.82% up to 75% LTV.
In its Max Net range, residential deals start from 0.87% at 75% LTV, while semi-commercial and commercial rates start from 0.89% and 0.92% respectively up to 70% LTV.
Kim Parker, director of lending operations and commercial strategy at Hope Capital Property Finance, said: “These enhancements represent a further step in our exciting journey as we continue to evolve our proposition and deliver greater value, flexibility and certainty for brokers and borrowers.
“By combining competitive rates with improved criteria and a range of key features, we are making it easier for borrowers to access the funding they need and complete their projects with confidence.
“Our proposition continues to provide practical solutions for the specialist property market, including up to 100% of build costs covered, full title insurance, no upfront legal undertaking, dual representation available up to £1 million and no exit fees. These latest enhancements demonstrate our ongoing commitment to listening to brokers, removing barriers and creating a proposition that supports more successful outcomes.”
Kate Cowan, chief financial and operating officer, added: “Underpinning these improvements is the strength and stability of our funding structure, which continues to support our ability to develop our proposition as the market evolves. We remain focused on listening to broker feedback and identifying opportunities to enhance the service and solutions we provide.
“With the strength of our new funding lines and further internal operational efficiencies, we have been able to pass on savings to borrowers while maintaining our disciplined, consistent lending approach.”
