Specialist five-year fixed rate residential and semi-commercial products for professional landlords now on offer
Hampshire Trust Bank (HTB) has launched two new specialist five-year fixed rate residential and semi-commercial products for professional landlords borrowing up to £25 million, with varying early repayment charge (ERC) profiles.
The bank said it introduced the products to support more borrowers in retaining or growing their residential and mixed-use portfolios.
Brokers can choose between two products – the ERC Plus and the ERC Lite – depending on the client’s particular affordability requirements and rate preference. These are available in HTB’s specialist buy-to-let, and house in multiple occupation and multi-unit freehold blocks range, as well as its semi-commercial offering at up to 75% loan-to-value (LTV).
ERC Plus offers borrowers a lower rate, starting from 6.79%, in exchange for an increase in the typical ERC payable by 1% in any year for the life of the loan upon exit. The ERC Lite product is at a higher rate, starting from 6.99%, but with HTB’s existing ERC profile applicable. For both products, clients continue to benefit from up to 10% of the original loan amount repayable per annum without charge.
HTB also provides professional investors with specialist residential loans for limited companies, offshore entities, expats, and foreign nationals, as well as mixed use portfolios and semi-commercial properties.
The specialist lender said it is now able to offer more products as service levels have recovered to normal levels, following the turmoil in the mortgage market after the mini budget in September.
Chris Daly (pictured), managing director of specialist mortgages at Hampshire Trust Bank, said they were delighted to announce this expansion of their specialist investment loan proposition.
“The bank has been listening carefully to brokers who have been outlining landlords’ difficulties with affordability, especially since the mini budget in late September 2022 and the subsequent turmoil in the lending markets,” Daly stated.
“ERC Plus and ERC Lite demonstrate HTB’s commitment to professional landlords, and will enable brokers to be able to select the appropriate product to meet their clients’ requirements.”
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