Hope Capital has launched a loan geared toward builders who wish to convert industrial buildings into residential, or semi-commercial, properties.
The specialist short-term lender says the unique loan has a flat fee of as much as 70% loan to worth at 0.92%, a discount from the lender’s earlier industrial charges, which started at 1.09%.
It provides the provide is geared toward properties in prime city areas, “by repurposing current industrial buildings which offers important value financial savings in comparison with having to tear down and construct from scratch”.
Product particulars embrace:
Hope Capital head of gross sales Kim Parker says: “Our newest industrial loan helps our environmental, social, and governance technique by backing builders dedicated to sustainable practices.
“It additionally positions them strongly in a market the place demand for reasonably priced housing and mixed-use areas continues to develop.
“On prime of that, such a funding gives key benefits, comparable to increased rental yields, alignment with market wants, and acquiring smoother approval processes for development works.”
