HTB, which provide specialist buy-to-let mortgages, including holiday lets, for limited companies (trading, SPVs and new SPVs), offshore entities, ex-pats and foreign nationals and first-time landlords, has increased three of its limits relating to short-term let (i.e. holiday let) properties:
· the maximum number of short-term lets allowed in a single portfolio is now 10, increased from 4;
· the maximum loan amount on a single short-term unit is now £1.5m, increased from £1m; and
· the maximum exposure to short-term lets in a portfolio is now £5m, increased from £2m.
These changes take place with immediate effect.
Louisa Sedgwick, Managing Director, Specialist Mortgages at Hampshire Trust Bank, commented: “We are delighted to announce this improvement to our holiday let proposition. These changes are not minor; rather, they allow the Bank to significantly increase its support for landlords who are meeting the demand for staycations.
“This, in tandem with the recent increase in our maximum loan size across our specialist buy-to-let range to £25m, shows how serious we are about growing market share in this area.”
