Hampshire Trust Bank (HTB) has launched a flex tracker mortgage, the market’s latest tracker product with flexibility built in, applicable for BTL and semi-commercial offerings.
The product is available from today as a limited edition, two-year discounted tracker.
Flex offers all the benefits of a tracker mortgage plus the ability to either sell the property or lock into a fixed term within the two-year discount period, without incurring ERCs.
The product is designed to give investors and developers increased flexibility in the short-term.
The new mortgage tracker is available up to a maximum net LTV of 75%, with BTL rates starting from 7.80% for fee plus, 8.80% for ERC plus and 9.30% for ERC lite.
Rates start from 8.00% for fee plus, 9.00% for ERC plus and 9.50% for ERC lite across semi-commercial.
Chris Daly, managing director for specialist mortgages at HTB (pictured above), commented: “We're committed to innovation, and our new flexible mortgage tracker is a bold step forward.
“Driven by broker feedback and a desire to try something new that will genuinely add value for brokers, we’ve reimagined a conventional tracker to be more flexible.
“This product will appeal to developers who are happy to tenant new developments, before selling down over time as well as giving existing investors the ability to track, fix or even sell during the initial term depending on their needs.
“The short-term flexibility it offers allows borrowers to adapt to changing personal and market circumstances, recognising that we can’t always accurately predict the future.
“By empowering investors and developers with better strategic decision-making tools, this tracker enables them to navigate uncertainty, effectively.”
