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
Product suite rate changes & Special Edition enhancement
In response to broker feedback, and high demand, we’ve enhanced our Special Edition five-year fixed rate product by increasing the maximum loan amount to £25m.
Please also note that as of tomorrow, Wednesday 28 June at 9am, rates across our buy-to-let and semi-commercial product suite will increase. Buy to let rates will start at 6.99% and semi-commercial rates will start at 7.49%.
Both buy to let and semi-commercial products continue to be offered with our popular ERC Plus and Lite options.
Special Edition to remain
Having witnessed an increased demand in our Special Edition product, which has proved popular in supporting portfolio landlords and property investors combatting affordability challenges, we have taken the decision to continue offering it.
Not only this, but we have also increased the maximum loan size to £25m, making it accessible to more experienced and larger portfolio property investors also facing affordability challenges.
As a reminder, we are fully dedicated to championing and supporting landlord and property investors of all sizes, and we hope this enhancement adds assurance and certainty in the current market.
The Special Edition product is available as a five-year fixed rate with a 5% arrangement fee which can be added to the loan and is available as an ERC Lite product only. The minimum Interest Cover Ratio (ICR) and Early Repayment Charges (ERCs) are standard.
Reminder on application pipeline
I’d like to take this time to reiterate our strong appetite to support experienced property investors whilst continuing to offer the award-winning service you expect. That includes our extensive criteria, quick turnaround times for DIPs and underwriting decisions, and innovative products for your professional portfolio landlord and property investor clients.
To enable you to manage your application pipeline for any applications on our historic rates, below is a reminder of our existing validity periods:
- Issued DIPs are valid for 30 days subject to the valuation having been instructed 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 tomorrow, Wednesday, 28 June at 9am, our rates will increase, and our enhanced Special Edition product will be available up to £25m. An updated rate card will be available on the website.
If you have any questions, please contact your BDM or call the Specialist Mortgages team on 020 7862 6244.