Hampshire Trust Bank increases maximum LTV to 75%
May 18, 2020 ~2 minute read

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Hampshire Trust Bank (HTB), has announced an increase in LTVs with immediate effect, lifting the maximum LTV on borrowing to 75%.

Charles McDowell, pictured, Managing Director at HTB, said:

“It is more important than ever that we continually review our lending criteria as more information comes to light. With immediate effect we are increasing our maximum LTV to 75% for the right type of deals - the right properties, the right yields and the right borrowers”.

Marcus Dussard, Sales Director at HTB, added:

“The whole team is buzzing about being able to deliver these criteria changes to our brokers and their clients. We all work with our intermediaries on a case-by case-basis and can’t wait to deliver our specialist lending in what is likely to be a resurgence, albeit a cautious one, in the property market”.

HTB LTV Criteria – 18 May 2020

Maximum LTV

Criteria

Up to 65%

All BTL, HMO and Semi Commercial deals are eligible for 65% LTV providing they meet our standard criteria

Up to 70%

As per 65% but with the following additional restrictions:

  • Maximum loan size of £3m
  • Increased ICR hurdles by 10% e.g. 125% for Ltd Company borrower becomes 135% - OR 6-months’ worth of interest is to be placed on account for the first 12 months of the loan
  • The borrower must have a BTL track record and have taken no payment holidays across their portfolio

Up to 75%

As per 65% but with the following additional restrictions:

  • Maximum loan size of £550k (or £750k inside M25)
  • Increased ICR hurdles by 15% e.g. 125% for Ltd Company borrower becomes 140%
  • The borrower must have a BTL track record and have taken no payment holidays across their portfolio
  • The property must have been used as a rental property recently
  • Excludes New builds (including heavily refurbished properties) and studio flats
  • For purchase deals or minimum capital raise refinances only

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