Hope Capital Property Finance has increased the dual legal representation threshold on its Dual+ residential bridging proposition from £500,000 to £1m.
The higher threshold applies across England, Wales and Scotland, with Scotland newly added to the geographical scope of the product. The lender has also raised the maximum qualifying instant valuation and loan size from £500,000 to £1m.
Valuations are instructed and completed at the enquiry stage where a case qualifies, allowing lending decisions to be made earlier in the underwriting process.
A dedicated packaging team reviews and packages cases on the day they are received before they progress through underwriting and legal completion.
Dual+ is available at up to 75% loan-to-value, with rates starting at 0.82%. It can be used for residential purchases, refinances, capital raising and cosmetic light refurbishment projects.
The proposition offers terms of three to 12 months, flexible repayment options and full title insurance. It also provides dual legal representation, instant valuations and no upfront legal undertaking on qualifying cases of up to £1m.
Kim Parker (pictured, left), director of lending operations and commercial strategy at Hope Capital Property Finance, says: “Speed and certainty continue to be two of the biggest priorities for brokers, particularly when dealing with time-sensitive residential bridging cases.
“By increasing our dual representation threshold to £1 million and bringing instant valuations into the enquiry stage, we’re removing two of the biggest causes of delay and giving brokers greater confidence that cases can complete within challenging timescales.
“Combined with our dedicated packaging team and experienced sales specialists, Dual+ delivers a streamlined journey from enquiry through to completion.
“These latest enhancements reinforce our commitment to helping brokers complete more deals, more quickly, while delivering a better experience for borrowers.”
Laura Carr (pictured, right), director of underwriting, compliance and stakeholder relations, adds: “By moving valuations earlier in the process and increasing the availability of dual legal representation, Dual+ gives brokers a clearer and more efficient route to completion.
“From an underwriting perspective, having key information available sooner allows us to assess cases with greater speed and confidence, while maintaining the robust approach to risk management that brokers and borrowers expect from Hope Capital Property Finance.
“These enhancements are a direct response to broker feedback and reflect our ongoing focus on making the bridging journey as straightforward as possible.
“By combining smarter processes, experienced teams and a proposition built around certainty, Dual+ helps brokers navigate complex transactions more effectively and deliver the outcomes their clients need.”
