Bank also simplifies loan bandings
Hampshire Trust Bank (HTB) has announced reduced rates on its specialist buy-to-let mortgage range, with significant rate reductions on five-year fixes.
The lender has made cuts of up to 60 basis points (bps) with rates starting at 6.69% for Fee Plus, 7.09% for ERC Plus, and 7.29% for ERC Lite.
HTB said it would continue to offer bespoke pricing for loans over £5 million as larger deals are often more complex and require flexibility across not only pricing but criteria too.
Fee Plus comes with a 5% arrangement fee and no lifetime ERC, while ERC Plus comes with a standard 2% arrangement fee and a 1% lifetime ERC, and ERC Lite comes with a standard 2% arrangement fee and no lifetime ERC.
Meanwhile, the bank has also simplified its loan bandings for buy-to-let, with the rates available on all loans between £100,000 and £5 million. Previously, the loan bandings were split between £100,000 to £1 million and loans £1 million to £5 million.
HTB provides landlords and investors with specialist residential loans of up to £25 million for limited companies, offshore entities, expats, and foreign nationals, as well as mixed-use portfolios and semi-commercial properties.
“At HTB, we constantly review our pricing, and so today have taken the immediate decision to reduce rates in order to help brokers and their landlord clients further,” stated Chris Daly (pictured), managing director of specialist mortgages at Hampshire Trust Bank.
“These significant rate cuts of 60bps across our ERC Lite, ERC Plus and Fee Plus five-year fixed-rate products, coupled with our expansive criteria and market-leading service levels, will provide advisers with an enhanced, competitive range of options for their landlord clients.”
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