Hope Capital launches fixed fee bridging loan

The fee will be decided on a case-by-case basis with borrowers agreeing on the fixed fee at the outset and paying when the loan redeems.

The lender said that as no interest is taken from the gross loan at the outset, the borrower is able to release more money from day one.

“This makes it ideal for investors who have bought a property below market value and are looking for a quick turnaround,” it said.

Hope Capital added that the product had “no complicated interest calculations or hidden fees”.

Brian Baker, head of operations at Hope Capital (pictured) said: “With the fixed fee loan we have taken a standard product and turned it around to create a simpler and more transparent bridging loan, which allows property investors to quickly and easily calculate their profit potential on any deal.

“We believe we are the only bridging lender to be offering such a facility. It is something the market has long needed and we think it will prove very popular.”

Dan Condliff, a broker from Revellis, said a product of this kind was “very much in demand”.

“This facility will enable our clients to cement short term opportunities with an improved return,” he added.