Hampshire Trust Bank (HTB) has enhanced its Special Edition five-year fixed rate deal, which starts at 6.99%, by increasing its maximum loan to £25m from £1m.
The product was initially launched in April for loans from £100,000 to £1m.
The Bank’s decision was made in response to broker feedback as well as consistently high demand for the product. 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 (ICR) and Early Repayment Charges (ERCs) are standard.
HTB provides professional investors with specialist residential investment 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, 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.”
Read more information on Hampshire Trust Bank’s Specialist Mortgages division here