Hope Capital Property Finance has brought out a new residential bridging product designed to support deals with urgent completion deadlines.
The Dual+ offering is available at 75% loan to value (LTV) at a rate of 0.79%. It is aimed at borrowers who need fast, reliable funding for residential purchases, refinances, capital raises and light cosmetic works.
Loans of up to £500,000 are available on terms of three to 12 months.
The Dual+ product was developed to give brokers certainty of completion, including the carrying out of the valuation at the enquiry stage, so decisions can be made sooner.
When the case progresses to the underwriting stage, the lender will instruct legals under dual representation to ensure faster turnaround times and a streamlined legal process.
Kim Parker (pictured), head of sales at Hope Capital Property Finance, said: “Dual+ has been developed to reflect exactly what the market is demanding: fast access to funding that can be delivered with confidence. By introducing a dedicated packaging team and combining this with features such as dual representation, full title insurance and same-day valuations, we are able to meet urgent deadlines without compromise.
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“From the moment an enquiry is received, our sales team will package the deal within the same day, with the same ultra-fast approach applied once the case reaches underwriting. Supported by our strong solicitor panel, one of the key elements of this product is that dual representation is utilised, which not only delivers significant cost savings for borrowers, but also ensures faster, more efficient completions.”