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
Notice of product suite changes
Please note that as of Tuesday, 22 August at 9am, the following changes will be made to our product suite:
- Rate reductions of up to 70bps on 5-year fixed deals between £100k and £1m across our buy-to-let and semi-commercial products.
- Special Edition evolves into ‘Fee Plus’ and aligns with existing loan size bandings on ERC Plus and Lite, now also available on semi-commercial, streamlining our offer.
Our new Fee Plus offering includes a 5% Arrangement Fee and is available on an ERC Lite basis only with an Early Repayment Charge of 4% in years one and two and 3% in years three to five.
This positive announcement means we’re now able to help you champion even more landlord and property investors with the affordability benefits across semi-commercial investments via Fee Plus. And, whilst reducing rates is both positive for both you and your clients, we will always continue to provide and adapt products to combat affordability challenges, regardless of market conditions.
Reminder on application pipeline
We will always endeavour to give 24 hours’ notice to any product suite changes, and to enable you to manage your application pipeline for any applications on our historic rates, or products, below is a reminder of our existing validity periods:
- Issued DIPs are valid for 90 days subject to the valuation having been instructed within 30 days, and all documents correctly uploaded to the PUMA Portal.
- For cases at valuation please ensure all documents and questions from the underwriters are responded to quickly.
- Offers must be accepted within 30 days and are valid for 90 days in total.
As of Tuesday, 22 August at 9am, the above changes will come into effect, and an updated rate card will be available on the website.
Championing your landlord and property investor clients means we never stop evolving. We continue to drive our proposition through innovation and we’ve recently made a raft of enhancements. This includes extending DIP validity to 90 days to simplify the number of deadlines you need to track, as well as key criteria improvements for marginal semi-commercial cases, broader appetite for holiday let landlords, support for vulnerable tenants, and changes to our policy on mortgage debentures.
Please do get in touch with your Business Development Manager to discuss any of the above and how we can support your landlord and property investor clients with our award-winning service.