Kim Parker, director of lending operations and commercial strategy at Hope Capital Property Finance, said this would help projects to start without unnecessary delay.
She said: “For borrowers embarking on refurbishment projects, speed is crucial, 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.”
The product, which was originally available on residential assets only, is now also available across semi-commercial and commercial property types. It offers 75% net loan to value (LTV) on residential property at 0.89% and 70% net LTV on semi-commercial and commercial property at 0.99%.
Winds of change at Zephyr
Zephyr Homeloans has launched a new range of special-edition five-year fixed rates with no valuation fee and no application fee. The products are available to both individual landlords and limited companies.
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Zephyr Homeloans, now part of Pepper Advantage, said the launch “reflects continued demand from landlords for products that balance competitive pricing with lower upfront costs and greater flexibility”.
The products are available in two versions. The first, with 0% product fee, has an interest rate of 6.24% on standard properties and 6.39% on houses in multiple occupation (HMOs) or multi-unit freehold blocks (MUFBs) of up to six bedrooms or units. The other version has a 2% product fee and interest rates of 5.84% on standard properties and 6.39% on HMOs or MUFB up to six bedrooms or units.
Zephyr Homeloans has also enhanced its lending criteria and now supports loans to limited company subsidiaries within more complex structures, as well as corporate lets for tenant employees.
The firm was bought by Pepper Advantage in September last year as part of Computershare’s mortgage servicing business, along with Topaz Finance. Andrew Jones, CEO of the Computershare business acquired by Pepper Advantage and including Zephyr Homeloans, stepped down last month.
