Paddles up! Hope Capital launches brand-new auction finance offer

04 Oct 2023

Hope Capital have today launched a brand-new offer designed for auction purchases.

The launch comes amid a huge rise in UK property auction activity and is expected to be highly sought after in the market, with the lender reducing rates on the offer by up to 0.06% compared to its standard bridging offering.

The bridging loan is specifically tailored to borrowers who are looking to purchase residential properties at auction with rates starting from just 0.89% per month.

Key features of Hope Capital’s auction finance offer include:

Free valuation with potential saving up to £2,500

Rates from 0.89%

Up to 75% LTV

Suitable for purchase only, including self-funded light refurbishment works

No upfront legal undertaking with dual representation

Available in England, Wales and Scotland

Loans from £200k-£2m

3 - 18 month term available

Jonathan Sealey, CEO at Hope Capital, commented: “We’ve worked with many brokers and borrowers on auction deals over the years, however we’ve never actually offered a specific auction finance product. Owing to the growing demand for this type of loan and conversations we’ve had with brokers, it felt like the right time to launch a solution which is specifically tailored to auction purchases.

“To have an option where there is no valuation cost to worry about, up to 75% LTV and some of the most competitive rates in the market, is an extremely attractive proposition and we hope will be instrumental in ensuring borrowers can continue with their investment opportunities, regardless of the disruption in the market currently.”

“The main attraction of purchasing a property at auction using a bridging loan is the speed it can offer. With the majority of bidders against a 28-day timeframe, we have an extremely efficient team and smooth onboarding process to ensure our borrowers can raise their paddle with confidence.”

Last week, the specialist short-term lender announced it had overhauled its product range to make its offering more straightforward and accessible to brokers. The lender feels very confident their product revamp, coupled with this latest auction finance offer, will be instrumental in delivering affordable, tailored and reliable options to brokers moving forward.

To find out more about Hope Capital and its extensive product rage call 0151 523 5998 or email: newdeals@hope-capital.co.uk