HTB’s new criteria welcomes modern methods of construction and increases appetite for first-time landlords

Hampshire Trust Bank (HTB) has expanded its specialist buy-to-let criteria to deliver greater support to both first-time landlords and those looking to invest in properties built with modern methods of construction (MMC).

Unlike most other lenders who have a defined list of which types of MMC are acceptable and those that are not, HTB will consider any type of MMC as security, as long as they are approved by the Build Offsite Property Assurance Scheme (BOPAS).

This new criteria was driven by feedback from intermediaries, who championed the affordability difficulties landlord clients face, as well the need to enhance the overall quality of Britain’s housing for future years to come.

Additionally, HTB will now accept applications from non-home owning first-time landlords with an income of over £60,000 per annum, paving the way for the next generation of property professionals.

The maximum loan size for first-time landlords is £500k and allows for a portfolio of up to four units. In addition, HTB will need to be satisfied that the applicant is not intending to live in the property.

HTB provides landlords and professional investors with specialist buy-to-let, residential and semi-commercial investment loans of up to £25m for limited companies, offshore entities, expats, and foreign nationals.

Andrea Glasgow, Sales Director, Specialist Mortgages at Hampshire Trust Bank, commented:

“At HTB, we’re not one for sitting on our hands. When brokers speak, we listen. We recognise that we’re in a key position to influence the quality of the nation’s housing stock through our lending decisions. And, alongside increasing support for the next generation of property investors, we are helping to positively shape the future of the investor market.”

Read more about Hampshire Trust Bank’s Specialist Mortgages division here