Hope Capital to hold rates on £500k-plus loans

The lender introduced Hope Guarantee, its fixed rate scheme, in September last year. The scheme means that the rates on loans are fixed for the term of the loan, as soon as Hope’s solicitors have been instructed. This is reliant on no material changes taking place to the application or loan.

Jonathan Sealey, CEO at Hope Capital, noted that many lenders were opting to pull fixed rate deals from the market with little to no notice, and then introduce higher rates. He argued that Hope wanted to counter this through its Hope Guarantee.

He continued: “Following the latest rate rise, I predict that even more lenders will focus on variable rates and pull their products from the market. Therefore, we hope our decision will provide reassurance and support borrowers who are looking for a solution to overcome this.

“This is no doubt a challenging time, but having the opportunity as a borrower to lock in at a great rate now and protect themselves against even further rate increases, we feel is pivotal, especially with the competitive options we provide.”

Last month Hope added new ‘bridge 2 let’ and ‘term 2 rent’ products to its range, while it also recently expanded its sales team.