Hope Capital records best ever period in business
16 Aug 2023
Hope Capital has today announced that the first half of 2023-24 was its most successful period to date, with a series of impressive records reported.
During the six months, year on year enquiries increased by 86%, applications were up by 101% and completions grew by 106%, compared to the same period last year.
The lender witnessed a particular surge of loans in June, which were taken out for a variety of reasons, such as for residential investment property acquisitions, semi-commercial and commercial property purchases, auction completions, business cashflow requirements, refurbishments, conversions, and development exits.
Jonathan Sealey, CEO at Hope Capital, said: “This is an unbelievable achievement for the Hope Capital team. Throughout the last six months, we pulled out all the stops to keep up with the surge of business which has been coming through the door. This result is down to the teamwork and involvement of every department from marketing, sales, underwriting and post completions to ensure that our brokers and borrowers could secure the solution they were looking for.”
In recent months, Hope Capital has been making various enhancements to its product range, including cutting rates on all deals over £1m, offering 80% LTV on medium & heavy refurbishment projects, introducing two new products – Bridge 2 Let and Term 2 Rent, as well as introducing its fixed rate scheme, the Hope Guarantee.
Jonathan continued: “As we all know, there’s a lot of movement occurring in the market at the moment, but for us it’s business as usual. We have made the decision not to remove any of our products from the market, and instead focus on what else we can offer to help brokers and their clients.
I am sure that we will continue to see rapid expansion throughout the rest of the year and I look forward to the road ahead.”
In line with Hope Capital’s strong business growth, the lender has also been able to make various exciting changes within its team in recent months. This includes 10% of its team being promoted, 10% developing their careers and moving to other areas of the business and nine new roles being created to support the overall team infrastructure.
The lender has also suggested it will be expanding its team even further over the next few months, to support its growth and fulfil its key strategic ambition of becoming one of the biggest bridging lenders in the UK.
To find out more about Hope Capital and its extensive product rage call 0151 523 5998 or email: newdeals@hope-capital.co.uk