Hope Capital increases maximum development exit LTV to 80%

Hope Capital is now offering a maximum LTV of 80%, combined with its lowest rate, on its residential development exit product range.

Designed for completed projects, the loan can be used to relieve any pressure from the borrower who needs to pay outstanding capital back to their existing lender while they need additional time to find the right buyers.

Rates start from 0.85% with 1-18 month terms on loans from £100,000 to £5m.

Borrowers have the potential to capital raise for business purposes and Hope Capital offers dual representation, a dedicated underwriter, and no exit fees.

Kim Parker, head of sales at Hope Capital, commented: “Often, once a borrower has a project which has completed, there will be a limited amount of time to sell the property(s) and subsequently, pay back the loan. Our development exit finance option can therefore be used to raise capital quickly and provide the borrower with vital breathing space to sell the property, while tie up their existing finance obligations.”

Kate Cowan, chief financial officer at Hope Capital, added: “We’ve worked with a significant number of brokers who have clients in need of this lifeline and predict there will be an influx of new borrowers in the same predicament in the near future. This is why we want our brokers to be reassured that we have ideal options for their clients to switch to a short-term, possibly lower-cost, funding option.”