Hope Capital Property Finance unveils its newest residential bridging product
Specialist lender Hope Capital Property Finance has launched Max GDV, a residential bridging product designed to give borrowers access to funding against the anticipated finished value of their refurbished property, with all loan funds available on day one.
Max GDV is available at 70% LTGDV at 0.87% and supports residential purchases, refinances and capital raises, alongside cosmetic light works.
The launch builds on the success of Hope Capital’s Max Net product, extending the focus to maximising day-one funding on residential projects, where lending is based on the finished value of the property.
The product gives borrowers access to the full loan at completion, rather than releasing refurbishment funding in stages. This provides capital upfront to help borrowers progress works on the property and potentially pursue further business opportunities.
Key features include:
- · 70% LTGDV at 0.87%
- · Available on residential property types
- · Can be used for purchase, refinance and capital raise, alongside works
- · Drawdown of all funds is available on day one
- · Flat, fixed rate applicable
- · Dual legal representation
- · No upfront legal undertaking
- · Full title insurance
- · No exit fees
- · Flexible payment options available
- · Loans from £100k-£1m
- · 3-12 month term
Kim Parker, director of lending operations and commercial strategy commented: “Over recent months, we’ve seen growing demand from experienced residential borrowers who want more capital available upfront, both to progress their current project and potentially explore further business opportunities.
“Max GDV responds to that demand by bringing together lending against the finished value and access to all loan funds on day one, rather than through refurbishment tranches.
“For brokers, it provides another option for clients looking to make the most of their property’s potential, with the flexibility to move quickly when opportunities arise.”
Laura Carr, director of underwriting, compliance and stakeholder relations added: “Max Net has demonstrated the demand for products that give borrowers access to more capital upfront. Max GDV builds on that success by applying the same principle to lending against the anticipated finished value of the property.
“For borrowers undertaking cosmetic light works, the value they intend to add to the property is an important part of the picture for our underwriting team.”