The commercial loan is available at flat rates for commercial to residential conversion up to 70% loan to value (LTV) at 0.92%, which is down from the lender’s prior commercial rates, which start at 1.09%.
Commercial to semi-commercial conversions can go up to 65% LTV at 0.95%.
Loans range from £100,000 up to £5m, and the products are aimed at light, medium or heavy refurbishment.
Up to 100% of build costs can be covered and dual representation up to £750,000 is permitted.
There are no exit fees, flexible payment options, 3-18-month terms and up to 100% purchase price is available with additional security as a first or second charge.
How to get your first-time buyer clients mortgage ready
Sponsored by Halifax Intermediaries
Hope Capital said the commercial loan is “tailored to boost properties in prime urban areas, by repurposing existing commercial buildings”. It added that this would offer “significant cost savings” compared to demolition and rebuilding.
Kim Parker (pictured), head of sales at Hope Capital, said: “Our latest commercial loan supports our ESG strategy by backing developers committed to sustainable practices. It also positions them strongly in a market where demand for affordable housing and mixed-use spaces continues to grow.
“On top of that, this type of investment offers key advantages, such as higher rental yields, alignment with market needs, and obtaining… smoother approval processes for construction works.”
Last month, the firm decreased its residential fast-track bridging rates.
