Commercial News

Hampshire Trust Bank increases LTGDV to 65%

Rozi Jones -
|
30th July 2020
SME house builder
"There are many pressures associated with being a small housebuilder right now so we are trying to help where we can."

Hampshire Trust Bank Development Finance has announced an increase in LTGDV to 65% for loans up to £6m.

The move is part of a focus to assist smaller experienced developers who will benefit from additional leverage and support from a bank lender.

David Alcock, managing director of development finance, said: “We recognise the day-to-day issues smaller builders face in securing viable sites and navigating a challenging planning system. There are many pressures associated with being a small housebuilder right now so we are trying to help where we can.

"Whilst we do lend up to £15m, we’ve taken the decision to provide extra leverage on loans up to £6m by increasing LTGDV up to 65% in this space. In the current period of uncertainty, we feel the combination of secure bank funding and dedicated relationship directors up and down the country at HTB who understand today's challenging environment, goes a long way to building long term relationships.”

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