Hope Capital has lifted its development exit loan to a maximum of 80% loan to value combined with the bridging lender’s lowest rate.

The loan, launched in 2021, previously had a 75% LTV maximum.

The lender says the product is “designed for completed projects — the loan can be used to relieve any pressure from the borrower who needs to pay outstanding capital back to their existing lender while they need additional time to find the right buyers”.

Key features of the loan include:

• 80% max LTV (additional security may be required)
• Rates from 85 basis points
• No minimum term
• Residential property only
• Loans from £100,000 to £5m
• One to 18-month terms
• No upfront legal undertaking available
• Dual representation
• Flexible payment options
• Dedicated underwriter
• No exit fees

Hope Capital head of sales Kim Parker adds: “Often, once a borrower has a project which has completed, there will be a limited amount of time to sell the property, or properties, and subsequently, pay back the loan.

“Our development exit finance option can therefore be used to raise capital quickly and provide the borrower with vital breathing space to sell the property, while tying-up their existing finance obligations.”