Hampshire Trust cuts buy-to-let rates by up to 1.30%

Hampshire Trust Bank has enhanced its specialist buy-to-let mortgage offering, with reduced fixed rates and simplified loan size bandings.

Five-year fixed rates have been reduced by up to 130 basis points, now starting from 5.99%, with new two-year fixed rates starting from 5.69%.

In addition, the Bank has simplified its bandings into three levels: £100,000 - £1m, £1m - £5m, and £5m+. The recently launched ‘ERC Plus’ and ‘ERC Lite’ options are also now extended across both the two-year and five-year fixed rate specialist buy-to-let, HMO and MUFB and semi-commercial ranges.

Chris Daly, managing director of specialist mortgages at Hampshire Trust Bank, commented: “These positive changes to our specialist investment loan proposition highlight our appetite for business from portfolio landlords and professional investors, with our £1m-£5m band being particularly competitively priced.

“These reductions put our fixed rates firmly in a sweet spot for investors, and with our service back at SLA levels, we are ready to manage demand for these attractively priced products.

“As illustrated with our recent ERC product launches, we do not believe high fees/lower rate products meet the needs of landlords; rather, we think it is prudent to offer options for brokers to recommend the best product to meet their clients’ requirements for leverage and affordability, as demonstrated with today’s changes.”