Hampshire Trust Bank (HTB) has announced new changes to its semi-commercial lending criteria following feedback from brokers.
The bank has revised the ratio of commercial to residential to 50:50 to match the requirements of brokers and improve access to more semi-commercial lending opportunities.
HTB said it can deal with a wide variety of complex assets, including pubs, barbers, betting shops, offices and more. With this criteria change, it will be able to consider an increased number of properties with living accommodation above commercial premises.
The bank confirmed that it will lend up to £15m and 75% net LTV, and that there are no minimum income or maximum age requirements. HTB will lend to limited companies, expats, trusts and offshore vehicles and foreign nationals.
“We constantly listen to feedback from brokers and today’s change is the direct result of that,” commented HTB sales director, Marcus Dussard. “The criteria change means we can lend on an increased number of properties and assets and highlights our appetite to lend in the semi-commercial space.
“Unlike many lenders in this market, we consider the commercial and the residential income for both investment and owner-occupied commercial properties due to our years of expertise and flexible underwriting approach in the specialist arena.
“We have a number of further enhancements to our offering lined up as we continue to meet the demands of brokers and their clients.”
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