Hampshire Trust Bank (HTB) has made major changes to its specialist buy-to-let mortgage offering, with significantly reduced fixed rates and simplified loan size bandings.
Five-year fixed rates have been reduced by up to 130 basis points (starting from 5.99%), with the Bank’s new two-year fixed rates starting from 5.69%.
In addition, the Bank has simplified its bandings into three levels: £100k – £1m; £1m – £5m and £5m+. The recently launched ‘ERC Plus’ and ‘ERC Lite’ options are also now extended across both the two-year and five-year fixed rate specialist buy-to-let, HMO and MUFB and semi-commercial ranges.
HTB provides professional investors with specialist residential loans up to £25m for limited companies, offshore entities, expats and foreign nationals, as well as mixed use portfolios and semi-commercial properties.
Chris Daly (pictured), managing director, specialist mortgages at Hampshire Trust Bank, said: “These positive changes to our specialist investment loan proposition highlight our appetite for business from portfolio landlords and professional investors, with our £1m-£5m band being particularly competitively priced.
“These reductions put our fixed rates firmly in a sweet spot for investors, and with our service back at SLA levels, we are ready to manage demand for these attractively priced products.
“As illustrated with our recent ERC product launches, we do not believe high fees/lower rate products meet the needs of landlords; rather, we think it is prudent to offer options for brokers to recommend the best product to meet their clients’ requirements for leverage and affordability, as demonstrated with today’s changes.”
