Hope Capital lending up 50% in H1

Hope Capital completed its largest ever loan in the week following the EU referendum, with the lender saying business shows "little sign of slowing".

Up until the end of June, Hope Capital had sent out loan offers equivalent to £181.8m. The biggest demand has been for refurbishment loans for investors to refurbish a property either for sale or let, or change of use schemes where properties are adapted from commercial to residential.

Jonathan Sealey, CEO of Hope Capital, said: “This is our fifth year of trading and every year we have grown, but this year has been exceptional and continues to be so. Rather than demand dropping off after the Brexit vote, we have seen it continue to grow, particularly amongst brokers who have found that larger lenders struggling for funding can no longer meet their demand for loans.

“As a principal lender with our own funds, it means that we have a guaranteed supply of funds. This means that when we say ‘yes’ to a loan, it means ‘yes’, and also means that we can complete on a loan and get the money into the borrower’s account in just a number of days.”