Hope Capital launches fixed fee bridging product
Hope Capital has launched a fixed fee bridging loan, which it says is a first in the bridging market.
"With the fixed fee loan we have taken a standard product and turned it around to create a simpler and more transparent bridging loan"
The product is available up to 75% LTV for a term of between one month and six months, with the fee agreed on a case-by-case basis.
The product is aimed at investors purchasing below market value property who are looking for a quick turnaround as no interest is taken from the gross loan at the outset, meaning the borrower is able to release more money from day one.
Brian Baker, head of operations, commented: “We are continually looking to offer new products that are innovative, exciting and market leading.
“With the fixed fee loan we have taken a standard product and turned it around to create a simpler and more transparent bridging loan, which allows property investors to quickly and easily calculate their profit potential on any deal.
“We believe we are the only bridging lender to be offering such a facility. It is something the market has long needed and we think it will prove very popular.”
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