Hope Capital has announced its biggest rate cut in its history, now offering a flat rate across its bridge range.
Previously, lenders' interest rates were set according to the specific trade and level of works, but the new proposal allows for a single rate for many projects, including cases of structural and non-structural light, medium and heavy renovations. interest rates may apply. 
The new offer is available across England, Wales and Scotland, with terms ranging from 3 to 18 months and loan amounts from £100,000 to £5 million. The offer includes residential bridging financing at 75% LTV (previously 0.99%, now 0.92%). Semi-commercial bridging loan with LTV 70%: Previously 1.19%, now 1.05%. Commercial bridging loan LTV is 65%: previously 1.25%, now 1.09%
Kim Parker, Head of Sales at Hope Capital, commented on the new fees: We understand that there is nothing more frustrating than a lender saying “interest rates from.” Our new service is clear and free of any misleading jargon, so brokers can immediately see how their customers will benefit in terms of rate and LTV. ”
“We must also not forget the cost-effectiveness of having a single rate available, which we expect to be particularly advantageous in supporting the medium refurbishment inquiries we receive.”
