Hampshire Trust Bank (HTB) has made a range of enhancements to its criteria for specialist buy-to-let (BTL) mortgage applications, highlighting the increased appetite for new business and its aim to simplify processes for brokers and their property investor clients. The new measures include criteria improvements for semi-commercial and holiday let products and polices on mortgage debentures. For semi-commercial, changes are being made to transactions where the property split is less than 65% commercial by value. HTB will now apply the same lending criteria of up to 75% LTV, removing the previous cut off of 70% LTV. Restrictions will be removed on the maximum number of units in holiday lets, and HTB will also accept cases where properties are let for emergency housing, rehabilitation or social transitional purposes, where there is a credible professional operator providing management.

The Nottingham Building Society has made a significant update to its mortgage offerings, introducing the sale of mortgage property (SOMP) as an approved method of repayment for interest-only mortgages. The change in mortgage criteria is designed to open new opportunities for brokers, whilst providing borrowers with increased flexibility and access to a wider range of options in challenging financial times. Under the new offering, for borrowers who choose SOMP as their primary repayment method, the society sets the maximum LTV at up to 60%, with borrowers having at least £200,000 equity on their property, which increase to £300,000 in London and the south east.

Hope Capital has increased its staff in the first half of 2023, recording a rise of 40% compared to the same period last year, following several new hires and promotions. Kim Parker, who previously served as a business development executive at the form has been promoted to sales team manager. David Weir has also been promoted to a business development manager, overseeing all bridging finance cases in the north and Scotland, with Jon Reed also rising to the role of credit manager. Cheryl Smith, who brings 15 years’ experience in the finance industry, has joined the underwriting team. New additions include Mayo-Yemi Onafowakan and Sarah Matthews, who both join the portfolio management team to help manage the loan book.

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