Hope Capital extends lending to borrowers with adverse credit

Hope Capital will now lend to borrowers who have had bankruptcies, an individual voluntary arrangement, and who have an impaired credit history.

However, the lender says that it will require  a solid exit route for the loan to be repaid and that it will explore the reasons for the bad credit history.

The lender’s residential purchase products, rates start from 0.69 per cent per month up to a maximum of 75 per cent LTV.

This offer is available for borrowers with under £5,000 of CCJs that have been settled in the last 24 months. It is also available for borrowers with outstanding mortgage arrears, although at a maximum 40 LTV.

For semi-commercial products, rates start at 0.85 per cent per month with a maximum of 70 per cent LTV. This offer is accessible for borrowers with no bankruptcies, IVAs or CVAs and with settled CCJs of less than £5,000. It is also available for borrowers with rolling arrears, however, with a maximum LTV of 40 per cent.

Looking at commercial property, the maximum LTV is 65 per cent and rates start from 0.89 per cent.

The offerings are available in England and Wales for light, moderate and heavy refurbishment as well as for property portfolios and for businesses.

Hope Capital managing director Gary Bailey says: “Some of the applications we have received in the past have been from people who might have a somewhat tarnished credit history but who have a very strong business case and a clear exit route.

“At low LTVs it makes perfect sense to grant a short-term loan when the case warrants it, with the condition that each loan is paid back with the sale of the property.

“This is particularly the case when someone has had credit problems in the past but these are now resolved, as long as we understand the reasons for this and we are confident this is not ongoing.

“We have introduced this extended range of bridging loans in order to make bridging available to a whole new segment of the market.”


Hope Capital makes five new appointments

Hope Capital has hired five new staff members, tripling the number of its business development team. The new hires include Miriam Howarth, who joins the firm as the head of marketing. Howarth previously held positions at the Bank of America, Citation Professional Solutions, and most recently iProspect, where she was associate director. In addition, the […]

Hope Capital signs Women in Finance Charter

Hope Capital has signed the Women in Finance Charter which aims to make financial services a more balanced and fair industry to work in. The bridging lender recently made extra female appointments to its senior management team. Half its board members are now women, and 75 per cent of its staff are female. The Women […]

Hope Capital announces new fixed fee loan

Bridging lender Hope Capital has begun offering a fixed fee loan The new loan is available up to 75 per cent LTV and for a term of between one month and six months. Hope Capital says the loan fee will be agreed on a case by case basis. Borrowers agree on the fixed fee at […]

Qatar cover image - thumbnail

White paper — Qatar International Insights

Jelf Employee Benefits highlights new legislation, key requirements and policy considerations when structuring international private medical insurance (IPMI) for expatriate employees in Qatar. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Qatar.


News and expert analysis straight to your inbox

Sign up

Why register with Mortgage Strategy?

Mortgage Strategy continues to be the market-leading B2B mortgage publication in the UK, and provides trusted, independent insight with the aim of helping, promoting and analysing the latest developments for mortgage professionals.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Mortgage Strategy Events
Be the first to hear about our industry leading conferences, awards, webinars and more.

Research and insight
Take part in and see the results of Mortgage Strategy's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now