Hope Capital the short term lending and bridging finance house has noted a record surge in demand this summer as the market emerges from lockdown, despite the complications brought on by coronavirus.
Between June 2020 and August 2020, the lender saw its number of loans drawn treble compared to the same period last year.
It has also been revealed that new cases have more than doubled, rising by 128% on 2019, and there has been a 40% increase in residential completions.
In response to the surge, Hope Capital recently launched its Capital Custom Collection and the Seventies Collection.
According to the lender, the new products are aimed at giving borrowers maximum flexibility and control.
Gary Bailey, managing director of Hope Capital, said: “This is an exciting time for Hope Capital. As soon as lockdown restrictions were lifted, we began to see unprecedented levels of demand.
“Our innovative products are putting borrowers in a position to realise their ambitions, and with our well-earned reputation for fast, flexible service, Hope Capital is the first port of call for many brokers.
“We have got ambitious plans to build on that success further, and we are always looking for experienced and enthusiastic people to join us on that journey.”
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The news comes after Hope Capital recently appointed Mike Watson as senior underwriter.
Gary Bailey, managing director of Hope Capital, said his door was always open to talented new applicants.
“Mike is a very welcome addition to the Hope Capital family.
“He brings with him a strong track-record and in-depth knowledge of the bridging sector.
“Strong underwriting and relationship skills are essential to bridging, so to be able to continue on our current growth path, we were particularly keen to strengthen further this key part of the business.
“Mike has demonstrated very clearly to us that he has the dynamic attitude we look for at Hope Capital, and that we know will drive success for himself and the business.”
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