The company will now consider lending up to 75% of open market value for below market value transactions, subject to full valuation.
Hope Capital Property Finance has made several changes to its bridging proposition, aiming to offer brokers greater flexibility and faster completions.
The company will now consider lending up to 75% of open market value for below market value transactions, subject to full valuation.
Instant valuations are available on qualifying residential cases up to £1m, doubling the previous £500,000 limit.
Dual legal representation is now available up to £1m, including Scotland, and refurbishment works can be forward funded in tranches.
The minimum loan size has been reduced from £100,000 to £50,000.
Kim Parker (pictured), director of lending operations and commercial strategy at Hope Capital Property Finance, said: “These enhancements represent a further step in our exciting journey as we continue to evolve our proposition and deliver greater value, flexibility and certainty for brokers and borrowers.
“By combining competitive rates with improved criteria and a range of key features, we are making it easier for borrowers to access the funding they need and complete their projects with confidence.
“Our proposition continues to provide practical solutions for the specialist property market, including up to 100% of build costs covered, full title insurance, no upfront legal undertaking, dual representation available up to £1 million and no exit fees.”
Parker added: “These latest enhancements demonstrate our ongoing commitment to listening to brokers, removing barriers and creating a proposition that supports more successful outcomes.”
Kate Cowan, chief financial and operating officer at Hope Capital Property Finance, said: “Underpinning these improvements is the strength and stability of our funding structure, which continues to support our ability to develop our proposition as the market evolves.
“We remain focused on listening to broker feedback and identifying opportunities to enhance the service and solutions we provide.
“With the strength of our new funding lines and further internal operational efficiencies, we have been able to pass on savings to borrowers while maintaining our disciplined, consistent lending approach.”