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New lender expands north of border

Bridging lender Hope launches in Scotland

Jonathan SealeyBridging lender Hope Capital has launched into Scotland with an initial tranche of £10 million for commercial and residential property deals.

Hope will lend on property with non-regulated loans of up to £1.5m for six months or less.

It is now looking for underwriters and business development managers to help with the expansion in Scotland.

Based in Merseyside, it more than doubled its loan book last year and expects to quadruple this again this year.  It also doubled its staff numbers in the last year and is looking to do so again as the business grows.

Jonathan Sealey, chief executive, said: “The time is absolutely right for Hope Capital to expand into Scotland.  With both the referendum and post election uncertainty out of the way there is a lot of positive sentiment in Scotland at the moment; the number of property transactions is increasing and house prices are soaring.

“Since we started exploring the opportunity to operate in Scotland earlier in the year we have already had a number of very interested parties looking to work with us. As we do in the rest of England and Wales, we are only looking to lend through the intermediary community; it is advisers that we have our relationships with and we are incredibly loyal to this sector.”

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