Hope Capital Property Finance has launched Max Net, a bridging loan product built around giving borrowers immediate access to funds at the point of completion.
The product combines purchase finance with an upfront refurbishment drawdown, removing the delay that can otherwise hold up works on newly acquired assets.
Max Net was originally available on residential property only. The enhanced version now extends to semi-commercial and commercial assets, offering 75% net LTV on residential at 0.89% and 70% net LTV on semi-commercial and commercial property at 0.99%. Loans run from £100,000 to £5m on terms of three to 15 months, with up to 100% of build costs covered.
The product carries a flat, fixed rate regardless of scheme size. Other features include flexible payment options, dual legal representation on loans up to £750,000, full title insurance, and no exit fees.
"In the current climate, confidence in funding is more important than ever for those looking for bridging finance," said Kim Parker, director of lending operations and commercial strategy at Hope Capital Property Finance (pictured).
"With the launch of Max Net, borrowers will be able to access maximum upfront liquidity on residential, semi-commercial and commercial properties without delay."
Speed of funding is a central part of the proposition, particularly for refurbishment borrowers. "For borrowers embarking on refurbishment projects, speed is crucial," Parker added.
"Having funds available from day one is vital, not just for the purchase, but to get works underway immediately. That's exactly what Max Net delivers, and why we anticipate huge demand amongst both our existing clients, and new borrowers."
