"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."
Hampshire Trust Bank has reduced rates across its specialist five-year fixed rate buy-to-let mortgage range.
Products have been reduced by up to 60 basis points with rates starting 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 £5 million in acknowledgement of larger deals often being more complex and requiring flexibility across both pricing and criteria.
Fee Plus comes with a 5% arrangement fee and no lifetime ERC; ERC Plus also 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 has simplified its loan bandings for buy-to-let, with these rates available on all loans between £100,000 and £5 million. Previously the loan bandings were split between £100,000-£1m and £1m-£5m.
Chris Daly, managing director of specialist mortgages at Hampshire Trust Bank, 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 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.”
