Bridging lender Hope Capital has launched its lowest ever interest rate for June.

Rates on bridging loan applications will be from 0.69% per month on loans of up to £5 million.

The rate will apply to lending on residential, retail, commercial properties and land. Borrowers can use the loans for property purchase, refinance and an array of other business purposes, including debt consolidation and covering cash flow.

Terms aim to be offered within one hour of the loan application and brokers will continue to have direct access to underwriters and senior decision makers.

Gary Bailey (pictured), managing director of Hope Capital, said: “As part of our growth plans, we’ve recruited more great talent, with BDMs now covering all parts the country; we have also reviewed our pricing model. As a result, we are launching our lowest ever rate.

“This, when coupled with our service excellence, we believe will generate more opportunities and completions for brokers.

“With our common-sense approach to underwriting we’ll continue to cater for today’s norm and simplify the complex. Brokers placing cases with Hope Capital will continue to enjoy the quick turnaround times, direct access to underwriters and complete cost transparency that Hope Capital has become well known for, as well as new competitive rates.”