The specialist short-term lender said new cases for these high value loans soared by 350% month-on-month in July. But this spike also comes following a year-on-year increase in cases of 189% in June.

In July 60% of new cases were for residential properties, a quarter for commercial, and the remaining 15% for mixed-use. The average loan-to-value, weighted by value, was under 60%.

Hope Capital said 85% of the loans were aimed at refinancing and capital-raising, indicating that businesses were looking to restructure their finances in the wake of the coronavirus lockdown.

The government has recently announced changes to permitted development rights and planning guidance, including proposals to make it easier to convert commercial properties to residential use.

These changes provide investors with new opportunities to meet changing patterns of demand in a post-coronavirus world.

Gary Bailey, managing director of Hope Capital, said: “It’s clear that there is strong demand from borrowers as the country gradually emerges from lockdown.

“There is a widespread expectation that in the post-coronavirus world, the property market will take on a very different shape. There is likely to be less demand for expensive city-centre office space, for example, and greater need for residential properties to incorporate outdoor space and areas for working comfortably and efficiently from home.

“Change brings fresh opportunities for investors, and recent planning changes mean it is easier for them to move quickly to take advantage of these. What they need is a lender who can also move quickly so that they can get their projects underway with the minimum of delay.

“Hope Capital’s flexible approach means we will always go the extra mile to understand individual projects and borrowers’ unique circumstances.

“It’s important that brokers know there are lenders such as Hope Capital that are ready to deal with cases at all levels, and go the extra mile to get finance in place quickly.”