Here is an update from the BTL and Commercial Mortgage lender, Hampshire Trust Bank. For full details see their latest product information here. This is a packaged only lender so give our team a call and we can talk you through any enquiries you may have.
HTB Announcement
New tracker mortgage with flexibility built in
We’ve launched ‘Flex’
The tracker mortgage with flexibility built in.
Driven by broker feedback, we’ve reimagined a conventional tracker to be more flexible.
Flex is designed to give investors and developers increased flexibility in the short-term, offering all the benefits of a tracker mortgage but with the ability to sell the property, or lock-into a fixed term with HTB, within the two-year discount period and without incurring early repayment charges.
Clients will have three options:
- Track: The two-year discounted rate enables borrowers to take advantage if interest rates are reduced.
- Fix: Borrowers can swap onto a HTB new business fixed rate at any time, at no charge. If this is within the two-year discounted period, the ERC on that product will be waived.
- Sell: If the borrower wishes to sell the property during the two-year discounted period, the ERC will again be waived.
This product will appeal to developers who are happy to tenant new developments, before selling down over time as well as giving existing investors the ability to track, fix or even sell during the initial term depending on their needs.
Available from today as a limited-edition, two-year discounted tracker across its buy-to-let and semi-commercial offering.
Flex is ideal for investors and developers who want the flexibility to move with their local market.
This new product aligns with the recent reduction in semi-commercial rates, which have been lowered by up to 0.50%, following last month’s decrease in buy-to-let rates by 0.35%.
View rate card here.