Hope Capital has launched three new bridging options for borrowers that cater for small, medium and large lending requirements.
The lender’s Mini loan is for property owners who want to borrow from £50,000 up to £149,999. The Midi loan is for lending between £150,000 and £500,000. Any loans above £500,000 fall into the Maxi loan range.
LTVs range from 55 per cent up to 75 per cent and rates start from 0.54 per cent a month.
The Mini, Midi and Maxi loans are part of Hope’s custom collection.
Gary Bailey (pictured), managing director of Hope Capital, said: “We’re proud to be launching this new product range which includes our smallest ever loan starting at £50,000.
“As part of the new custom collection, these three tiers aim to meet the needs of the broker and borrower. Considering the current market, we’ve placed an emphasis on upfront affordability with the new products.”
LendInvest has refreshed its unregulated bridging product range relaunching higher LTVs up to 75 per cent.
Residential bridging rates start at 0.55 per cent available up to 50 per cent LTV, at 0.69 per cent up to 65 per cent LTV, and 0.80 per cent up to 75 per cent LTV with loan sizes available from £75,000 up to £15,000,000.
The lender has also reintroduced its auction finance and bridge-to-let products at 75 per cent LTV with rates of 0.80 per cent.
LTVs on development exit deals, semi-commercial and commercial lending have also been increased.
Justin Trowse, director for bridging finance at LendInvest, said: “As we continue to see more encouraging signs across the housing market with projects getting back underway, we feel confident in adjusting our product suite to meet the needs of our borrowers.”