Hope Capital introduces a new loan product for borrowers with excellent credit.
- Exciting rate reductions aim to boost the UK mortgage market.
- Loan offerings include high loan-to-value options up to £750,000.
- Loans must adhere to stringent credit and valuation criteria.
- Hope Capital’s initiative seeks to encourage residential investment.
Hope Capital has recently launched an innovative loan intended for borrowers who boast commendable credit ratings. This fresh offering promises to invigorate the UK mortgage market by extending favourable conditions to eligible individuals.
The announcement comes with substantial rate reductions, which present a golden opportunity for borrowers. Those who meet Hope Capital’s criteria can now enjoy loan-to-value ratios of up to 75% at a rate of 0.91% or 70% at 0.89%. This signifies a decrease of up to 0.05% from previous rates, making these options particularly attractive for individuals seeking competitive mortgage solutions.
The loans cater exclusively to residential projects whose value does not exceed £750,000 and must conform to Hope Capital’s automated valuation model and desktop valuation criteria. Borrowers are required to have title insurance, ensuring a secure and smooth transaction.
Eligibility criteria are robust, targeting borrowers with a strong financial history. Applicants need to be UK residents with at least one additional UK asset, must have maintained a clean financial record for 24 months without County Court Judgements, missed mortgage payments, bankruptcies, or Individual Voluntary Arrangements.
Kim Parker, head of sales at Hope Capital, emphasised the versatility that this new offering brings. Following the Bank of England’s interest rate cut, Hope Capital aims to provide borrowers with excellent credit the chance to benefit from highly competitive rates. Parker stated the company is confident their offering will be in high demand, addressing the need for residential investment opportunities.
Hope Capital’s new offering is set to energise the residential mortgage market with its appealing terms for those with strong credit histories.
