"By making the deal a continued part of our product range we are providing assurance at a time of widespread uncertainty around rates and improving affordability for the wider buy-to-let market"
Hampshire Trust Bank has announced that it has made changes to its Special Edition five-year fixed rate deal - starting at 6.99%, by increasing the maximum loan from £1m to £25m.
The Bank’s decision was made in response to broker feedback as well as demand. By increasing the product’s maximum loan size from £1m to £25m as with its other products, it opens up access to more experienced and larger portfolio property investor clients.
The product has a 5% arrangement fee which can be added to the loan and is available as either ERC Lite or ERC Plus. The minimum Interest Cover Ratio and Early Repayment Charges are standard.
Chris Daly, managing director, Specialist Mortgages at Hampshire Trust Bank, commented:
“Our BTL Special Edition product was introduced two months ago on the back of valuable broker feedback and today’s decision reflects how feedback we receive from brokers feeds into our product development decisions. By making the deal a continued part of our product range we are providing assurance at a time of widespread uncertainty around rates and improving affordability for the wider buy-to-let market.
“At HTB, we are dedicated to championing and supporting landlords and property investors of all sizes and this move further highlights our unwavering commitment to specialist buy-to-let brokers and their clients.”
