Hampshire Trust Bank (HTB) has launched new specialist five-year fixed-rate residential and semi-commercial products with differing ERC profiles, designed for professional landlords borrowing up to £25m.
The new ERC Plus and ERC Lite options — available within the bank’s specialist BTL, HMO/MUFB and semi-commercial product ranges at up to 75% LTV — allow brokers to choose between the two products, depending on the client’s particular affordability requirements and rate preference.
ERC Plus offers a lower rate, starting from 6.79%, in exchange for an increase in the typical ERC payable by 100 basis in any year for the life of the loan upon exit.
Meanwhile, ERC Lite comes at a higher rate, starting from 6.99%, but with HTB’s existing ERC profile.
For both options, clients continue to benefit from up to 10% of the original loan amount repayable per annum without charge.
Chris Daly, managing director for specialist mortgages at HTB (pictured above), commented: “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.”
