Hope Capital extends low rate offer

Rates were cut on bridging loans so that they start at 0.69 per cent per month in June. This will now continue throughout July at least.

The rate cut led to an 83 per cent jump in enquiries and a 263 per cent rise in appointments, the lender reported.

Alongside extending the rate offer, Hope has launched a new pricing matrix on its website, which it said will make it easier for brokers to see the different loan-to-values and rates that the lender will work to.

Gary Bailey (pictured), managing director of Hope Capital, noted the lender has “recruited heavily” in recent months in order to “facilitate sustainable growth”.

“With such a significant uplift in business we now have the infrastructure in place to ensure that we can cope with a considerable uplift in volume; Hope Capital can continue to upscale, while maintaining some of the best service and turn-around times available in the UK – even when looking at complex projects outside of the norm,” he continued.

Bailey added that as the new rates and products had been “very enthusiastically received” by brokers, it made sense to make them available for longer.