Hampshire Trust Bank cuts buy-to-let five year fixed rates
Hampshire Trust Bank (HTB) has made rate cuts to its specialist buy-to-let mortgage range, offering significant reductions on its five-year fixed rates.
These products have been reduced by up to 60 basis points with rates starting at 6.69% for Fee Plus, 7.09% for ERC Plus and 7.29% for ERC Lite.
HTB will continue to offer bespoke pricing for loans over £5 million in acknowledgement of larger deals often being more complex and requiring flexibility across not only pricing but criteria too.
Fee Plus comes with a 5% arrangement fee and no lifetime ERC; ERC Plus also 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.
In addition, the Bank has simplified its loan bandings for buy-to-let, with these rates available on all loans between £100k and £5 million – previously the loan bandings were split between £100k-£1m and loans £1m-£5m.
HTB provides landlords and investors with specialist residential loans of up to £25m for limited companies, offshore entities, expats, and foreign nationals, as well as mixed-use portfolios and semi-commercial properties.
Chris Daly, managing director, Specialist Mortgages at Hampshire Trust Bank, commented:
“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.
These significant rate cuts of 60 basis points 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.”