Hampshire Trust Bank (HTB) has announced a 10 basis point cut across its full bridging finance range.
The rate reduction, effective immediately, applies to all bridging loan types, including those secured on residential and semi-commercial assets. It also covers HTB’s heavy refurbishment offering, which is targeted at experienced developers tackling substantial projects such as house-to-HMO conversions and commercial-to-residential redevelopments.
The pricing change follows recent adjustments to the bank’s heavy refurbishment product, where Day 1 loan-to-value was increased to 75%. HTB also expanded its funding flexibility, with the lender now able to finance up to 100% of Day 1 refurbishment costs on qualifying deals, as long as the total borrowing remains within 65% of loan-to-gross-development-value (LTGDV).
Alex Upton, managing director of specialist mortgages and bridging finance, said the move was intended to help brokers stay competitive without compromising on the fundamentals of the product or service.
“We’ve reduced rates to support brokers who need to remain competitive, particularly where time is tight and delivery needs to be reliable. The structure of the product hasn’t changed. Brokers still have direct access to the people making the decisions, and the flexibility to get deals moving quickly,” she said.
“Pricing matters, but it only works if the fundamentals are solid. Whether it’s a portfolio refinance, a chain break or a planning-led acquisition, brokers need confidence that the lender can move at pace, understand the details and stay close to the deal throughout.”
Andrea Glasgow (main picture), sales director of specialist mortgages and bridging finance, added that the change would assist brokers working under mounting pressure and shifting client demands.
“Brokers are working to tighter deadlines and more complex client expectations. Competitive pricing helps at the front end, but it’s just one part of placing the deal,” she said. “What makes the difference is knowing the process will hold up – that cases will be looked at properly and things won’t stall when timing matters.”
“This change gives brokers more flexibility on price without asking them to give up the support and structure they rely on.”
