Hope Capital Enhances Refurbishment Offering

Hope Capital has made significant rate reductions to its residential medium refurbishment loan, providing up to 75% loan-to-value (LTV) day one at 0.99%. This loan is designed for projects needing moderate to extensive repairs, including extensions, change of use, conversions, and can also cover projects which require permitted development rights or planning permission.

Image: A refurbished property

The lender is also offering several key features to ensure the loan provides the flexibility and speed borrowers require. Key features include up to 70% gross development value (GDV), dual representation, use of title insurance, no exit fees, a dedicated underwriter, and no upfront legal undertaking.

“The demand for refurbishment bridging loans remains very strong, with investors increasingly looking at refurbishment and development opportunities to either improve the property, increase yield or for capital gain.” - Kim Parker, Head of Sales at Hope Capital

With this latest offering, borrowers can receive up to 75% LTV day one and up to 70% GDV, with the ability to cover 100% of the cost of works, meaning Hope Capital can support borrowers with as much capital as possible to undertake their project.

Image: A refurbishment project in progress

At Hope Capital, the priority is to regularly review the market, listen to brokers and their clients, to see what the demand is, so they can create and deliver innovative bridging loan solutions to meet a diverse range of borrowers’ needs.

Image: A refurbished property

By providing a comprehensive refurbishment loan solution, Hope Capital aims to support borrowers in achieving their property development goals.