Hampshire Trust Bank (HTB) has cut rates across its specialist BTL mortgage range, including reductions to its five-year fixed rates.
The products have been reduced by up to 60 bps, with rates starting from 6.69% for ‘fee plus’, 7.09% for ‘ERC plus’ and 7.29% for ‘ERC lite’.
The bank will continue to offer bespoke pricing for loans over £5m.
‘Fee plus’ comes with a 5% arrangement fee and no lifetime ERC; ‘ERC plus’ comes with a standard 2% arrangement fee and a 1% lifetime ERC; while ‘ERC lite’ has a standard 2% arrangement fee and no lifetime ERC.
Additionally, HTB has simplified its loan bandings for BTL, with these rates available on all loans between £100,000 and £5m.
Previous loan bandings were split between £100,000-£1m and loans of £1m-5m.
Chris Daly, managing director of specialist mortgages at HTB (pictured above), 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 bps 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.”
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 for mixed-use portfolios and semi-commercial properties.
