Hope Capital today launches a brand-new feature of its bridging loan products. The Flexible Fees product feature is aimed at borrowers who require zero lender arrangement fee, reduced valuation fee options or no upfront solicitors’ costs.
The new feature is specifically designed for borrowers who need to manage their cashflow effectively and require the highest possible amount on day one of the loan. By offering borrowers the option of zero or reduced fees, they are effectively customising the loan to best suit their needs.
The Flexible Fees feature provides a 0% option on the lender arrangement fee, options for reduced valuation fees and no upfront solicitors costs. By removing and reducing these costs, the broker can provide their client with a more flexible and affordable loan.
The zero lender arrangement fee is available solely on serviced or part-serviced loans with minimum loan terms applying. Reduced valuation fees and no upfront solicitors’ undertakings are available across both serviced and interest-retained loans upon receipt of the application.
Brokers will continue to receive their full procuration fee on completion, irrespective of which option the borrower chooses.
These new fee options are part of the Hope Capital Custom Collection which comprises six different products, features and options, all of which are designed to give the most suitable solution for the borrower. By providing brokers with a collection of products, they are able to offer their clients a loan that is truly customised to meet their needs. Full details on the Custom Collection can be found on the Hope Capital website.
Hope Capital is renowned for being a highly flexible lender and is dedicated to providing excellent service to brokers and their clients from initial enquiry through to completion.
Gary Bailey, managing director of Hope Capital, said: “The new Flexible Fees product feature forms part of the Custom Collection and gives customers the option of having more funds on day one and lower initial outgoings. This flexibility can make the difference between a loan being affordable and working for the borrower, or not.
“Right now, we’re placing a real focus on offering new innovative products which offer flexibility and affordability for the borrower.”