Hope Capital Property Finance has partnered with Gunnercooke Scotland to bring out no upfront legal undertaking for residential bridging loans.
This will apply to residential loans up to £1m and allow borrowers to proceed with their applications without paying legal fees in advance.
Along with Hope Capital Property Finance’s other “fast-track features” – such as the potential to qualify for instant valuations, desktop valuations and full title insurance, for instance – this development represents a “significant step forward in streamlining the residential bridging process across Scotland”.
Hope Capital Property Finance’s residential bridging in Scotland has a flat rate of 0.85% at 75% loan to value (LTV) and can cover light and medium refurbishments of more complex structural works.
Laura Carr, head of underwriting at Hope Capital Property Finance, said: “We’ve been proudly operating in Scotland since 2018 and understand what it takes to get deals completed efficiently. Funding in Scotland requires a lender with the right expertise, and this new initiative, alongside our partnership with Gunnercooke, reinforces our commitment to delivering speed, flexibility, and transparency to brokers and borrowers alike.
“Gunnercooke has been a valued partner on our panel for several years, supporting our work in England and Wales, and it’s wonderful to see our relationship with their team continue to strengthen. We’re delighted to introduce this innovative offering with them as we collaborate on even more deals.”
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Bryan Finlayson, commercial real estate partner at Gunnercooke Scotland, added: “We’re pleased to be working with Hope Capital Property Finance on this initiative, which marks an important development for both borrowers and brokers in Scotland. By removing the need for upfront legal fees, we’re making the bridging process more straightforward, accessible, and efficient from the very beginning.
“Hope Capital Property Finance’s experience and commitment to the Scottish market align perfectly with our approach, and together, we’re focused on delivering a more efficient journey for clients across a range of residential projects.”