Hope Capital Property Finance has reduced rates on its Max Net product, including a 10bps rate reduction for semi-commercial properties.
Rates now start from 0.87% for residential properties up to 75% net LTV, 0.89% for semi-commercial, and 0.92% for commercial, both at 70% net LTV.
Hope Capital says the Max Net product now accounts for 10% of all enquiries and 20% of all new applications.
Max Net is designed to give borrowers maximum upfront liquidity from day one. It enables borrowers to access not only the funds required towards the purchase of an asset, but also an immediate initial refurbishment drawdown following completion - helping projects commence without unnecessary delay.
The product is available on loans from £50,000 to £5m on 3-15 month terms and can be used for purchase, refinance and capital raise, alongside works.
It offers forward funded refurbishment tranches with funds typically released the same day.
The product features a flat fixed rate, no exit fees, and flexible payment options, with dual legal representation available.
Kate Cowan, chief financial and operating officer at Hope Capital Property Finance commented: “This latest enhancement to our Max Net product is fantastic news for borrowers. With the backing of our newest institutional funding lines, we have been able to respond to market demand for the product while maintaining our consistent responsible lending approach.”
Kim Parker, director of lending operations and commercial strategy, added: “The response to Max Net from the market has been phenomenal, which is why we have listened to broker feedback and enhanced the product even further. Max Net delivers maximum upfront liquidity from day one, and by forward funding the refurbishment, it means borrowers can be confident their project can progress without delay."
