Hampshire Trust Bank (HTB) has increased the maximum loan size on its Special Edition five-year fixed rate from £1m to £25m.
The product, which starts at 6.99%, was initially launched in April for loans from £100,000 to £1m.
The Bank says its decision was made in response to broker feedback as well as consistently high demand for the product.
The product has a 5% arrangement fee which can be added to the loan and is available as either ERC Lite or ERC Plus. The minimum Interest Cover Ratio (ICR) and Early Repayment Charges (ERCs) are standard.
Chris Daly (pictured), managing director, specialist mortgages at Hampshire Trust Bank, said: “Our BTL Special Edition product was introduced two months ago on the back of valuable broker feedback and today’s decision reflects how feedback we receive from brokers feeds into our product development decisions. By making the deal a continued part of our product range we are providing assurance at a time of widespread uncertainty around rates and improving affordability for the wider buy-to-let market.
“At HTB, we are dedicated to championing and supporting landlords and property investors of all sizes and this move further highlights our unwavering commitment to specialist buy-to-let brokers and their clients.”
