The digital bridging lender offers bridging loans from £100,000 to £750,000 for residential buy-to-let (BTL) property in England.
GoGoProp, a digital bridging lender based in Hong Kong, has launched in the UK offering bridging loans from £100,000 to £750,000 for residential buy-to-let (BTL) property in England.
Loans are available to both overseas and domestic borrowers at a flat rate of 1% a month, with up to 75% loan-to-value (LTV), a minimum term of three months, up to 12 months’ retained interest and no exit fees.
Its operations teams in the UK and Hong Kong process applications for up to 20 hours a day across time zones.
It issues initial approvals within 24 hours and can complete deals in as little as 10 days.
The lender uses automated valuation models (AVMs) and desktop valuations where possible, and can proceed on a no-search indemnity and title insurance basis.
GoGoProp is led by founder Christopher Lindvall (pictured, right), who runs the business alongside head of business development Raman Au Yeung (pictured, left).
Lindvall said: “Buyers in the UK property market, whether overseas or domestic, need speed, clarity and consistency.
“The UK remains one of the most internationally recognised property markets in Europe, and that level of demand needs lenders who can actually move when an opportunity arises.
“We understand the urgency of property transactions, so being available for 20 hours a day means we can offer practical support to our brokers and borrowers when they need it most.”
Au Yeung said: “Our systems allow us to move quickly, but brokers tell us what they value most is being able to speak to a person and get a straight answer.
“That means fast decisions, one clear rate for eligible borrowers, and no hidden fees.”