Kim Parker, Director of Lending Operations and Commercial Strategy at Hope Capital Property Finance
Dual+ is a residential bridging product offering up to 75% LTV at 0.82%. It uses dual legal representation, instant valuations at no cost to the borrower, no upfront legal undertaking and a range of other features to speed up completions and bring costs down.
Six months on from launch, Dual+ has been expanded. Kim Parker, Director of Lending Operations and Commercial Strategy at Hope Capital Property Finance, explains how their offering has changed and why.
“Dual+ set out to do two things well: give brokers and borrowers speed they can count on and bring the cost of the deal down. The results since January speak for themselves. One in ten of our residential applications now comes through Dual+, and completions are running around 40% quicker than the average deal.
“That momentum is exactly why we’ve widened the product. We’ve doubled our maximum loan size thanks to increases to our headline feature thresholds, so dual legal representation, instant valuations at no cost to the borrower, and no upfront legal undertaking on residential loans now apply up to £1m, rather than £500k. Because Dual+ utilises instant valuations and a single legal team acting for both sides, borrowers pursuing higher-value residential opportunities can now benefit from reduced costs and faster completions too.
“We’ve also taken Dual+ into Scotland, having started in England and Wales. That opens the door to borrowers and brokers we simply couldn’t serve the same way before.
“Our solicitor panel has grown alongside demand, and we place real trust in these firms, who are experts in dual legal representation.”
