Hampshire Trust Bank joins Bridging Loan Directory
By David Craik -
Specialist bank, Hampshire Trust Bank (HTB) has joined the Bridging Loan Directory to increase its market exposure.
The bank has a number of divisions covering primarily property, business and finance.
The Specialist Mortgages division of HTB provides a range of solutions for customers including residential and commercial bridging, buy-to-let and HMO and semi-commercial mortgages.
In addition, HTB’s Specialist Business Finance and Development Finance divisions provide a wide range of asset finance and development finance solutions to business and individuals.
The bank also provides savings accounts to individuals and businesses as well as corporate deposits solutions for businesses looking to deposit a sum of £1m or more.
For its bridging service HTB offers up to 75% gross Loan to Value (LTV) and aims for a period of 28 days from loan application to completion. In addition, it has a policy of having no early repayment charges.
Despite the uncertainty caused by the Covid-19 pandemic HTB has continued to flourish over the last 12 months.
“The market has remained strong partly due to the stamp duty holiday, but also due to the strength of the wider property market and the adaptability of the professional investor” says Marcus Dussard, sales director.
“There was, of course, a blip for most lenders in the wake of the first lockdown, but we remained pragmatic in our lending and our support of the market. We continued to introduce a range of new propositions in what has been a largely receptive and optimistic market.”
Examples of this innovation includes the launch back in November of a 3.25% five-year fixed rate buy-to-let product for loans between £1m and £15million with an LTV of up to 60%.
HTB also introduced a new Refurb-in-Term product allowing borrowers to wrap-up a light refurbishment into their normal term arrangement and a 5:2 fixed-rate mortgage product offering borrowers a five-year fix with the flexibility of a two.
Dussard says brokers and customers have continued to respond positively to its offerings and service throughout the recent cycle.
Dussard adds: “We provide a very hands-on personal service from an underwriting perspective on each stage through to completion. We have the resources, the capability, and we work hard with our brokers to ensure they get the products that they need.”
It forecasts further growth this year as the UK economy emerges from lockdown. “There are some concerns around increases in unemployment, but investors have been finding ways to adapt their plans and portfolios since the pandemic started. The market also continues to be resilient,” Dussard says.
As such HTB believes that it is a prime time to be joining the Bridging Loan Directory and to tap into its online resource and community.
It says the Bridging Loan Directory gets under the skin of the industry and provides valuable, insight, advice and support.
“Joining the Bridging Loan Directory will help to ensure we deliver our message to the widest possible base of professional finance intermediaries and individuals as we continue to innovate and grow,” explains Dussard.