Hampshire Trust Bank

Mortgage Type

Specialist BTL/Commercial

Property Value (min)

£133,333 - minimum loan amount is £100,000 - so property has to be over this amount.

Advance (min)

£100,000

Advance (max)

£15,000,000

Term (Max)

30 years

Minimum Age

21 years

Maximum Age

No maximum

Family Cash Gift Deposit

Accepted

Family Gift of Equity Deposit

Accepted

Income (min)

No minimum income

Let to Buy (Turning Residential into Buy to Let)

No

DWP Tenants

Yes

Student Lets

Yes

Ex-Local Authority Properties

Yes, flats and houses

Minimum years remaining on leasehold property

50 years at the end of the mortgage

Minimum Ownership

None

Permanent rights to reside and remain

Not required

Ex-Patriates

Yes, also, Foreign Nationals based in over 110 countries acceptable

New Builds

Yes, considered

Credit Score

Yes – however only accounts for a small part of the overall decision

Rental Calculation

Limited company: BTL 125% HMO over 6 bedrooms – 140%

Personal name: BTL 140% HMO over 6 bedrooms – 155%

5 year fixed – stressed at pay rate

2 year fixed – stressed at pay rate + 2%

5:2 – stressed at payrate

Historic CCJ’s & Defaults

Assessed on a case by case basis

Valuation Fees

Paid direct to lender at the lender valuation fee scales

Maximum number of applicants

10 maximum

Countries

England & Wales

Access

3mc can give you access to Hampshire Trust Bank as your packager or mortgage club.

Regulated BTLs

Not considered

Missed mortgage payments

Assessed on a case by case basis

Property Type / Commercial

Residential BTL and Semi Commercial (Specialist)

The value of the residential element can be up to 50% of the total valuation and should have its own separate access

• Large and small portfolios
• Holiday lets
• HMOs
• Development exits
• Sitting tenants
• New build flats

Purpose Built Student Accommodation - Or PBSA for short.

Weather it’s a newly built development or a well-established asset, we are now in the market for PBSA. Refer these to me directly to vet, and ill liaise with head of underwriting to obtain a decision.

A general list of questions such as:

• Location
• University Ranking
• Property Quality
• Lease terms – If the property is leased then the key terms need to be understood including how any break clauses work.
• Occupancy Levels – What are the historic occupancy levels
• Competition – What does the PBSA pipeline for the University / City imply for future occupancy levels / rental expectations?
• Overseas Students – What proportion at University / property?

HTB also consider Vulnerable Tenants:

The following types of properties and tenancies providing the property is let on a corporate agreement to a local authority, Housing Association, or strong corporate / charity and, where applicable, an experienced and reputable CQA-registered care provider is in place:

• Housing Association, or strong corporate / charity
• Properties where 24 hour or live-in care is provided
• Properties providing emergency housing accommodation.
• Properties where housing is provided for rehabilitation or social transitional purposes

For clarity direct lets to vulnerable tenants are outside of appetite. Care Homes are also outside of appetite.

For semi-commercial cases where, following valuation, the residential aspect is less than 50% we will continue to lend up to 75% LTV and 1.25x interest cover.
Note that where the residential aspect is less than 50%, we may need to reprice the application, which could impact serviceability.

HTB accept cases where properties are let to a third party for emergency housing, rehabilitation or social transitional purposes, provided there is a credible professional operator providing appropriate management.

The threshold above which a mortgage debenture is required is £2m.

Location

England and Wales

Type of Credit Search conducted at AIP stage

Hard credit search

Portfolio Landlords

Portfolio Landlords Accepted

Background Portfolio Requirements (Example)

– No maximum LTV for the overall portfolio

Portfolio Landlord Criteria (Example)
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – All cases
– Asset & Liability Statement – All cases
– Cashflow Statement – All cases
* Lender will accept client versions for all documents
NB – Portfolio assessment will be valid for 12 months to reduce requirements on subsequent applications providing there are no material changes