Hampshire Trust Bank has launched a 5:2 fixed rate buy to let mortgage product, providing additional flexibility for brokers and their clients.
Matt Lenzie, Founder of Commercial Mortgages Broker, the specialist finance brokerage, said: “the introduction of the 5:2 product provide investors and landlords with the confidence that they have a 5 year fixed term locked in, with the flexibility of a 2 year term if that may be required. We find ourselves in unprecedented waters, with no clear visibility of when the markets will completely return to normal, therefore flexibility in this economic environment is very sensible.”
Alex Upton, Commercial Director of Hampshire Trust Bank, said: “I’m really excited to announce this new solution – it allows brokers to offer the best of both worlds to their clients. The borrower can get the certainty and leverage provided by a five-year fix with the flexibility of a two. This enables more control in managing their portfolio as plans change and opportunities arise.”
“This is also about getting back to normality. Yes, this is a difficult time with unusual challenges, but we need to stop navel gazing, start looking forward and continue to innovate. We are in constant dialogue with all stakeholders. Decisive innovation, together with continued investment in our people and process, is what makes us an agile and genuinely specialist lender.”