Hope Capital has its best-ever quarter and reduces rates to continue its rapid growth
Freshly released figures reveal that Hope Capital, has once again achieved another company record.
Q3 has been confirmed as the lender’s most successful quarter to date since it was established in 2011. Owing to new funding lines secured by Hope Capital and a larger current portfolio, throughout August, September and October 2023, the lender’s loan book increased by 19% compared to Q2, while the total book doubled compared to the same period last year. Furthermore, Hope Capital has also reported its largest balance on further commitments to loans, which potentially will add another 12% to its loan book.
This record lending quarter comes just months following on from a stellar first half of the year, which saw Hope Capital announce a series of other records, including year on year enquiries increasing by 86% and completions growing by 106%.
In line with the announcement, Hope Capital has revealed further improvements to its residential offering. The lender has dropped rates by 0.06% on its residential product and feels extremely confident this will be instrumental in ensuring it achieves more exceptional results, while also providing brokers with even more affordable options for their clients.
Hope Capital’s residential product now stands as:
- Rates starting from 0.89%
- Up to 75% LTV
- Loans between £100k – £5m
- 3 – 18 month terms
- Available across England, Wales and Scotland (for Scotland, postcode restrictions apply)
Jonathan Sealey, CEO at Hope Capital, commented: “What a year 2023 has been for Hope Capital! To be able to say we have achieved two record periods within a number of months is a tremendous accomplishment. Our growth has no doubt accelerated due to the strategy we have implemented over the last 12 months, which has focused on ensuring we are delivering reliable, transparent and competitive products to meet market demand, while having the most effective processes in place and a team who have the knowledge and expertise to provide a second-to-none service.”
Throughout the year, Hope Capital has made various improvements to its product range, as well as grown its team significantly with a 40% increase in staff compared to last year. The lender is now absolutely thrilled to see the impact this has had on the business and the results it has achieved.
Jonathan continued: “Moving forward, we of course want to continue to grow our success, while also ensure our brokers and borrowers can access competitive options. The latest enhancement compliments our recent product overhaul where we streamlined our entire proposition, by providing even more affordability for the borrower.
“Thanks to our continuous product innovation and the continued hard work and support of the team and our partners, the business continues to go from strength to strength.”
