Hope Capital introduces guarantee and cuts fixed rates

The guarantee means that borrowers’ rates are fixed for the term of the loan. This comes into play as soon as the lender’s solicitors have been instructed as long as there are no material changes to the application or loan.

The lender said that this would give broker’s clients “much needed security” in light of rising interest rates and bridging finance lenders introducing variable rates for the first time.

Roz Cawood (pictured), director of sales at Hope Capital, said: “Providing borrowers with the opportunity to fix their rates, as well as take advantage of highly competitive products in the market, will be instrumental in supporting brokers and their clients moving forward.

“With there being so much uncertainty in the current economic climate, we want our broker’s clients to borrow with confidence. This is just what borrowers need at a time when living costs are being squeezed.”

Rate cuts across resi and commercial deals

Residential rates now begin from 0.55 per cent, and available up to 80 per cent loan to value (LTV), and semi-commercial rates start from 0.7 per cent up to 70 per cent LTV.

Commercial and land rates are priced from 0.75 per cent up to 65 per cent LTV respectively.

Jonathan Sealey, CEO at Hope Capital, said: “We recognise in the bridging finance market that one size doesn’t fit all, which is why we have launched a multitude of competitive, flexible and innovative options to suit all borrower’s needs.

“We are seeing that it is becoming increasingly difficult for bridging finance lenders to provide a fixed rate option like the Hope Guarantee in the specialist lending sector. This provides borrowers with the opportunity to lock in at a great rate now and protect themselves against future rate increases.”