Hope Capital has launched a fast-track residential bridging loan, which the lender said would be helpful in the lead-up to the stamp duty deadline.
Hope Capital will offer instant valuations up to 75% loan to value (LTV), following enhancements to its service. It will make use of electronic Know Your Customer (KYC) and anti-money laundering (AML) verification.
The lender has also created a fast-track underwriting team, following the appointments of Emily Bell and Sasha Ehlke-West and the promotion of Stacey Bradwell as new underwriters.
The loan will be available up to 75% LTV at a rate of 0.92% per month, and will be open to residential purchases and capital raise.
Loans of up to £500,000 will be available, as well as full title insurance.
Hope Capital will not require upfront legal undertaking and dual representation is available.
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There will be no exit fees and flexible payment options, and the range has been designed to accommodate cosmetic light refurbishment.
Kim Parker, head of sales at Hope Capital, said: “We’ve been operating in the bridging market for over 13 years now, and therefore are no rookie when it comes to not just providing speed, but also being a reliable lender who gets the deal across the line.
“Initiating a designated fast-track team within the business, as well as having access to several key features including dual representation and instant valuations, will be instrumental for loans [that] need to be turned around extremely quickly.”
Laura Carr (pictured), head of underwriting at Hope Capital, added: “This new service will ensure we can move quicker than ever to continue to provide the speed required.
“That said, it is paramount our borrowers understand this is a two-way street process, which is why it is vital our clients have all the information needed readily available so we can deliver what is required within their desired time frame.”
She added: “We’re really looking forward to getting the ball rolling and supporting our clients with this much-needed solution ahead of the stamp duty deadline.”
