Complex Buy To Let
HTB widens specialist BTL criteria
Hampshire Trust Bank (HTB) has widened its specialist buy-to-let (BTL) criteria to offer more support to first-time landlords and properties using modern methods of construction (MMCs).
HTB will consider any type of MMC as security as long as it is approved by the Buildoffsite Property Assurance Scheme (BOPAS).
The criteria change was “driven by feedback from intermediaries” who said that clients were facing affordability challenges.
HTB will accept applications from non-homeowning first-time landlords with an income of £60,000 per year.
The maximum loan size for a first-time landlord is £500,000 and allows for a portfolio of up to four units.
HTB will also need to be satisfied that the applicant is not intending to live in the property.
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Andrea Glasgow (pictured), sales director of specialist mortgages at HTB, said: “At HTB, we’re not one for sitting on our hands. 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.
“And, alongside increasing support for the next generation of property investors, we are helping to positively shape the future of the investor market.”
HTB recently added a flexible tracker product for investors, which is available across BTL and semi-commercial ranges.