Hampshire Trust Bank (HTB) has enhanced the criteria for its specialist BTL mortgage applications.
In the case of holiday lets, the lender has removed restrictions on the number of units and loan amount — subject to its current exposure limit of £25m — as well as removing experience requirements.
HTB now also accepts vulnerable tenant cases where properties are let for emergency housing, rehabilitation or social transitional purposes, provided there is a credible professional management operator.
The threshold above which a mortgage debenture is required has now also been increased to £2m.
Chris Daly, MD of specialist mortgages at HTB (pictured above), commented: “We regularly review our proposition to ensure it is satisfying the needs of our property investor clients and reflects the changing requirements of the professional investor community.
“The cumulative effect of today’s changes are significant; simplifying our policies as well as extending our appetite both to new sectors and within our existing products."
