Hope Capital has increased its maximum loan size to £5m and has revealed it would consider increasing this further for “the right deal.”
The extension has come as Hope Capital has expanded over the last four years.
Changes include extending the loan term from a maximum of six months to nine months and the possibility of extending the loan-to-value (LTV) to 75 per cent.
Jonathan Sealey, chief executive of Hope Capital, said the move came about as a greater number of requests were received to lend larger amounts.
He said: “We have the funds to do this so it makes perfect sense. This will be of particular benefit to our development borrowers from London and other key cities, who want to undertake larger refurbishment projects.”
According to a spokesperson for the company, the decision was made owing to increased demand; and the fact it is now feasible for the lender to increase loan size in a ‘sensible and controlled way’.
This June (2015), the company expanded into the Scotland market and announced it doubled its loan book since last year and hoped to quadruple it by the end of this year.
The company was established in 2011 and is a privately run and funded bridging firm.
