Hope Capital cuts Max Net product rates

Hope Capital Property Finance has reduced rates on its Max Net product, including a 10bps rate reduction for semi-commercial properties.

This update follows the lender securing a £75m funding line from investment manager Triple Point.

The new reduced rates are:

· residential: 75% Net LTV at 0.87% (was 0.89%)

· semi-commercial: 70% Net LTV at 0.89% (was 0.99%)

· commercial: 70% Net LTV at 0.92% (was 0.99%)

Since its launch earlier this year, the lender has seen enquiries increase by 30% for the Max Net product.

The product now accounts for 10% of all enquiries and 20% of all new applications.

Kate Cowan, chief financial and operating officer at Hope Capital Property Finance (pictured above, right), 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 at Hope Capital Property Finance (pictured above, left), 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.”