Hope Capital to consider dual legal representation across deals

The lender had previously offered dual representation on residential auction deals only, and the change will be “instrumental for borrowers looking to make significant cost savings”.

Dual representation is where a solicitor represents the lender and the borrower in a transaction.

Hope Capital said that it has several benefits including the borrower saving money and it speeding up the deal process as communication between two solicitors is not needed.

Kim Parker, head of sales at Hope Capital, said: “Speed, affordability and a streamlined process is what is expected when opting for a bridging loan. This is a key step forward to ensure we can facilitate transactions in an even quicker manner, while also helping our borrowers make significant cost savings.

“Having already utilised dual representation with a number of our solicitor partners, we’re looking forward to supporting even more borrowers with this moving forward.”

Laura Carr, head of underwriting at Hope Capital, added: “This service improvement further simplifies the legal process for our borrowers, when the circumstances are right.

“We’ve established some fantastic relationships with solicitor firms over the years, who have a lot of experience providing joint legal advice, and we look forward to working alongside them to continue to deliver the outcome our clients are looking for.”