Hope Capital has amended the criteria for its Hope Seven 5 bridging product.

The lender has increased its offerings term from six months to seven months.

It is also now available for refinance, capital raising, debt relief and transactions where there is a purchase involved.

The deal is accessible to borrowers in England and Wales, at 75 per cent LTV with a monthly rate of 0.75 per cent, on non-regulated residential properties worth up to £750,000.

The amendments come in response to broker feedback, according to Hope Capital.

Hope Capital managing director Gary Bailey says: “The Hope Seven 5 bridging loan has struck a chord with a lot of brokers and their clients and has been recognised as a popular bridging loan ever since we introduced it at the end of September last year.

“We listened to our broker partners and the needs of their clients, so extending the term from six to seven months helps to makes it an ideal solution for a wider number of borrowers. This will save the borrower any potential extension fees or other refinancing costs before they can get the mortgage in place.”