"Both products are suitable for a variety of purposes, including improving run-down commercial premises which is proving difficult to obtain a mortgage on in the current climate"
Hope Capital has launched the 'Nineties Collection' for commercial property.
The two products, the Hope 90 and the Hope 94 are bridging loan facilities designed specifically for commercial properties. The Hope 90 offers borrowers a rate of 0.90% per month on loans up to £900,000 and has a maximum 55% LTV. The Hope 94 provides borrowers with a higher LTV of 60%, with a rate of 0.94% for loans up to £600,000.
The launch of the Nineties Collection closely follows the release of the Eighties Collection, which is suitable for borrowers looking for a bridging loan as a way to achieve their mixed-use property ambitions.
Both the Hope 90 and the Hope 94 will be available throughout England and Wales for a maximum loan period of 12 months to individuals and companies. The products have various repayment options on both products, retained, serviced or part retained & part service depending on the needs of the borrower.
The Nineties Collection products are suitable for commercial properties and require a full valuation in order to determine the present value of the property against which the loan will be secured.
Sinead Moynihan, sales director at Hope Capital, commented: “The Nineties Collection will further expand our offering and has been designed to meet the diverse needs of borrowers, their affordability and aspirations.
“Demand in the specialist finance market remains strong, which is why it is essential we provide new, innovative products to support brokers and keep the sector moving forward.
“The Nineties Collection is aimed at borrowers who require finance quickly to progress their plans. Both products are suitable for a variety of purposes, including improving run-down commercial premises which is proving difficult to obtain a mortgage on in the current climate, funding a new business and so on.”