The product starts at 6.99% and has a 5% arrangement fee
Hampshire Trust Bank (HTB) has increased the maximum loan size of its special edition five-year fixed rate deal from £1 million to £25 million.
The decision to increase the product’s maximum loan size was made in response to broker feedback and to the consistently high demand for it. The lender said that increasing loan size opened up access to more experienced and larger portfolio property investor clients.
“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,” commented Chris Daly (pictured), managing director of specialist mortgages at Hampshire Trust Bank.
The product, which starts at 6.99%, was initially launched in April for loans from £100,000 to £1 million. It has a 5% arrangement fee which can be added to the loan and is available as either ERC Lite or ERC Plus, with standard minimum interest cover ratio and early repayment charges.
HTB provides professional investors with specialist residential investment loans up to £25 million for limited companies, offshore entities, expats, and foreign nationals, as well as mixed use portfolios and semi-commercial properties.
Daly added: “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.”
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