Hope Capital Property Finance has completed two purchase-and-refurb facilities in Merseyside for an experienced property developer.
The transactions were completed with broker Melius Commercial and were structured to support acquisition and refurbishment work, using desktop valuations, dual legal representation and direct access to decision-makers.
The first facility was for a residential auction purchase and used Hope Capital’s Max Net product. The lender said the structure provided the borrower with upfront liquidity, with an initial drawdown intended to avoid delays in starting the refurbishment project.
The facility was written at 75% LTV, with a rate of 0.89%. Hope Capital said the use of a desktop valuation helped the deal complete within the required auction timescale.
The second purchase-and-refurb facility used Hope Capital’s Dual+ product, also at 75% LTV, with a rate of 0.79%. A desktop valuation was also used on this transaction to support turnaround times.
Hope Capital said Dual+ is designed for borrowers needing faster bridging finance, with its packaging team arranging the valuation once an application is received, while legals are instructed through established solicitor relationships under dual legal representation.
The lender said the approach is intended to reduce timescales, lower costs and provide a more streamlined legal process for borrowers.
Dutton Gregory acted as solicitor partner on the case.
Tom Whatley, associate solicitor at Dutton Gregory, says: “Dual Representation is an excellent way of ensuring timely completions, we are delighted as always to partner with Hope Capital Property Finance on another successful bridging loan.”
Both facilities were handled by David Weir, national account manager at Hope Capital, with underwriting led by Rachael Flynn, underwriter.
Weir (pictured) says: “These cases demonstrate the strength of clear communication and our ability to tailor structures around borrower needs. Working closely with Melius Commercial allowed us to move quickly, provide clarity at every stage, and deliver the certainty both borrowers needed to progress confidently.”
Thomas Singleton, director at Melius Commercial, adds: “It was fantastic to work once again with Hope Capital Property Finance on these agreements for our borrower.
“These cases both had their challenges, including tight turnaround times due to it being an auction purchase but David and Rachael handled it brilliantly and everyone was very happy with the end result.”
