Hampshire Trust Bank (HTB) has made rate cuts to its specialist buy-to-let (BTL) mortgage range, offering reductions of up to 60 basis points (BPS) on 5-year fixed rates.
Rates start at 6.69% for Fee Plus, 7.09% for ERC Plus and 7.29% for ERC Lite.
HTB will continue to offer bespoke pricing for loans over £5m in acknowledgement of larger deals often being more complex and requiring flexibility across pricing and criteria.
Fee Plus comes with a 5% arrangement fee and no lifetime early repayment charge (ERC); ERC Plus comes with a standard 2% arrangement fee and a 1% lifetime ERC; and ERC Lite comes with a standard 2% arrangement fee and no lifetime ERC.
In addition, the bank simplified its loan bandings for buy-to-let, with these rates available on all loans between £100,000 and £5m – previously the loan bandings were split between £100,000 to £1m and loans £1m-£5m.
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 mixed-use portfolios and semi-commercial properties.
Chris Daly (pictured), managing director, specialist mortgages at HTB, said: “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 basis points 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.”
