Hampshire Trust Bank (HTB) is extending its decision in principle (DIP) from 30 days to 90 days across its specialist mortgage product range. This change is in addition to HTB’s recently extended offer period, which is also valid for 90 days. The extension offers a single, simplified deadline, reducing multiple timeframes before and after the issuance of a DIP and pre-offer, which often frustrates brokers. The extension therefore streamlines communication between lender, broker and their landlord or investor clients.

Paragon Bank has added limited edition five-year fixed rate products to its range of buy-to-let (BTL) mortgages for portfolio landlords. Rates on the five-year fixed mortgages, which are available up to 75% LTV, are priced at 6.45%, with a £2,995 fee and a maximum loan size of £2m. The product is also available at 6.54% with a £995 fee and £500,000 maximum loan. Paragon has said that the products are suitable for portfolio landlords financing self-contained properties that fall into EPC bands A-C while rates for homes with lower energy efficiency ratings are priced 5bps higher. The bank is also offering similar mortgages for HMOs, with a £2,995 fee option priced at 6.7%, with rates on the £995 fee product set at 6.79%.

CHL Mortgages has reduced rates across its entire five-year fixed range, with rates now starting at 5.94%. The lender has also expanded the fee options available to landlords, with a newly introduced 7% fee option available up to 70% LTV. A 5% fee option also remains available up to 70%, with the 2% and 3% fee alternatives are available up to 75% LTV. In its core product range, individual and limited company/LLP rates now start from 5.94%, HMO/MUFB rates from 5.99% and short-term lets products from 6.49%, with products in the refurbishment range now starting from 5.99%.

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