The lender has cut residential rates to 0.87% at 75% net loan-to-value (LTV), while semi-commercial rates have fallen by 0.10% to 0.89% at 70% net LTV.
Hope Capital Property Finance has reduced rates across its Max Net bridging product range following strong broker demand and the expansion of its institutional funding lines.
The lender has cut residential rates to 0.87% at 75% net loan-to-value (LTV), while semi-commercial rates have fallen by 0.10% to 0.89% at 70% net LTV.
Commercial rates have also reduced to 0.92% at 70% net LTV.
Hope Capital said enquiries for the Max Net product have increased by 30% since its launch earlier this year, with the range now accounting for 10% of all enquiries and 20% of new applications.
The product is designed to provide borrowers with maximum upfront liquidity by funding both the purchase of a property and an initial refurbishment drawdown immediately after completion.
Max Net is available on residential, semi-commercial and commercial properties for purchases, refinances and capital raising.
It offers forward-funded refurbishment tranches, no exit fees, dual legal representation, loans from £50,000 to £5m and terms of between three and 15 months.
It is available across England, Wales and Scotland.
Kate Cowan, chief financial and operating officer at Hope Capital Property Finance, said: “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 at Hope Capital Property Finance, 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.”