This 0.07% cut will be available on Hope Capital’s residential deals, including straightforward purchases, light refurbishment and auction deals.
Further, the lender has increased the dual representation offering from £500,000 to £750,000, to enable more borrowers to benefit from lower costs and faster completions.
The product is available for loans of up to £750,000 on terms of 3-12 months. There are no exit fees, it has full title insurance, no upfront legal undertaking and borrowers may qualify for an instant valuation at no extra cost.
Borrowers will get a designated fast-track underwriting team and Hope Capital will make use of electronic Know Your Customer and anti-money laundering (AML) verification.
Kim Parker, head of sales at Hope Capital, said: “Our focus remains on delivering clarity, speed, and flexibility to our broker partners and their clients.
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“By offering a reduced, flat rate of 0.85% for our residential fast-track offering, we’re reinforcing our commitment to providing market-leading solutions tailored to a wide variety of borrower needs.”
Earlier this year, Hope Capital reported a 15.6% rise in its loan book in two months and saw its most successful month in business to date.
