Hampshire Trust Bank marks service level recovery with two product launches

These are five-year fixed residential and semi-commercial products for professional landlords requiring loans of up to £25m. 

Each product has a different early repayment charge (ERC) structure and brokers can choose between the two on the behalf of their clients depending on affordability and rate preference.

This is available up to 75 per cent loan to value (LTV) across HTB’s specialist buy-to-let, houses in multiple occupation (HMO), multi-unit freehold block (MUFB) and semi-commercial ranges. 

The ERC plus option offers a lower rate, beginning from 6.79 per cent, in exchange for an increase in the typical ERC payable by one per cent in any year of the loan. The ERC lite option has a higher rate, starts from 6.99 per cent and the lender’s existing ERC structure applies. 

HTB: ‘Listening carefully to brokers’

Chris Daly (pictured), managing director, specialist mortgages at HTB, said: “We are delighted to announce this enhancement to our specialist investment loan proposition. The bank has been listening carefully to brokers who have been outlining landlords’ difficulties with affordability, especially since the mini Budget in late September 2022 and the subsequent turmoil in the lending markets. 

“ERC plus and ERC lite demonstrate HTB’s commitment to professional landlords and will enable brokers to be able to select the appropriate product to meet their clients’ requirements.”