Hope Capital has announced it recorded a leap of 189% in enquires during June compared to the same month a year ago.

The lender said this included an increase in enquiries from brokers the firm has not previously worked with, with the number of formal loan offers also increasing by 20% compared to June 2019.

Hope Capital also revealed that over the first six months of 2020, it has seen a 14% increase in loans accepted by underwriting and a 31% increase in loans accepted by clients.

The firm suggested its rise in demand coincides with the introduction of a new range of products, aimed at giving borrowers maximum flexibility and control. Launched at the end of May, the firm’s Custom Collection provides borrowers with products designed to help them manage cashflows and optimise their day-one loan amount.

Nearly 90% of the new enquiries Hope Capital received in June were for residential properties, up from just 50% the previous year, the lender added.

Hope Capital CEO, Jonathan Sealey, commented: “These figures are evidence that demand for short-term finance is strong, and growing. With lockdown easing, there is a pent-up demand for borrowing as projects that were put on hold in spring are put back in motion.

“The strong demand we have seen also reflects the range of products we have made available to meet borrowers’ diverse needs in the post-lockdown world. Our new Hope Capital Custom Collection gives borrowers all the flexibility they need to cope with the new circumstances in which they find themselves as a result of COVID-19.

“Hope Capital is putting borrowers and brokers in control. Combined with our well-earned reputation for fast, flexible service, this should make Hope Capital their first port of call when looking for short-term finance.”

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