Hampshire Trust Bank has increased lending limits on its holiday let proposition, reflecting increased demand for this specialist buy-to-let lending.
It will now allow landlords to include 10 short-term let properties within a single portfolio; previously this had been limited to four. At the same time the maximum loan on a single short-term let unit has been increased from £1m to £1.5m, with the maximum exposure to short-term lets in a portfolio increasing from £2m to £5m.
These changes take place with immediate effect.
Hampshire Trust Bank provides a range of specialist buy-to-let mortgages, including holiday lets for limited companies (trading, SPVs and new SPVs), offshore entities, expats and foreign nationals and first-time landlords.
Hampshire Trust Bank managing director, specialist mortgages Louisa Sedgwick says these changes allow the bank to significantly increase its support for landlords who are meeting increased demand for UK holidays and short-breaks.
She adds: “In tandem with the recent increase in our maximum loan size across our specialist buy-to-let range to £25m, this shows how serious we are about growing market share in this area.”