It will now accept applications from first-time landlords earning over £60,000 annually
Hampshire Trust Bank (HTB) has expanded its specialist buy-to-let criteria to offer greater support to first-time landlords and investors in properties constructed using modern methods of construction (MMC).
The specialist lender said it will consider any MMC type as security, provided they are approved by the Build Offsite Property Assurance Scheme (BOPAS).
The new criteria was introduced following feedback from intermediaries who highlighted affordability challenges for landlord clients and the need to improve the quality of Britain’s housing stock.
HTB will now accept applications from non-homeowning first-time landlords with an annual income of over £60,000, facilitating entry for new property professionals. The maximum loan size for first-time landlords is £500,000, allowing for a portfolio of up to four units, with HTB requiring assurance that applicants do not intend to live in the property.
“At HTB, we’re not one for sitting on our hands,” said Andrea Glasgow (pictured), sales director of specialist mortgages at Hampshire Trust Bank. “When brokers speak, we listen.
“We recognise that we’re in a key position to influence the quality of the nation’s housing stock through our lending decisions. Alongside increasing support for the next generation of property investors, we are helping to positively shape the future of the investor market.”
HTB offers specialist buy-to-let, residential, and semi-commercial investment loans of up to £25 million for limited companies, offshore entities, expatriates, and foreign nationals.
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