Finova Payment and Mortgage Services has partnered with Hope Capital, a specialist bridging loan provider, to enhance its portfolio of lending products.

The partnership will provide Finova Payment and Mortgage Service members access to Hope Capital’s bridging loans of up to £5m for a term of up to 18 months.

Hope Capital’s products provide bridging finance for borrowers looking to purchase land or fund conversions and house refurbishments. 

In addition, it allows for developer exits and offers bridging options for other purposes including re-bridging, capital raises and purchase, business or legal reasons.

The lender’s 80% loan-to-value (LTV) loans are available for residential properties, while 70% LTV loans are available for semi-commercial properties and 65% LTV loans for commercial properties. 

UK nationals, foreign nationals or company structures are all able to access the lender’s bridging finance, and those seeking 70% LTV on loans up to £750k can benefit from automated valuation models (AVMs).

Finova Payment & Mortgage Services head Melanie Spencer says: “We are delighted to be partnering with Hope Capital to offer more short-term finance opportunities to borrowers who may need to carry out refurbishments or press ahead with their purchase plans but may not have a large saving pot to turn to.”

“This partnership is certainly a welcome addition to our panel of existing lending partners, and we look forward to supporting our brokers with the many options offered by Hope Capital’s bridging loans.”