The specialist mortgages division of Hampshire Trust Bank is now accepting desktop valuations for buy-to-let properties.

The desktop valuations are restricted to loans of a maximum of £550,000, or £750,000 in London.

HMOs and semi-commercial properties are excluded as are new builds, studio flats, properties with five or more bedrooms, multi-unit freehold blocks and flats in buildings over six floors.

Yesterday, Hampshire Trust increased borrowing to a maximum of 75 per cent LTV.

HTB commercial director Alex Upton says: “We have revised our approach to adopt the use of desktop valuations where possible. Valuation is such an important issue, and even though the restrictions have been lifted for physical inspections, this additional ability to use desktops provides an alternative as the industry works through the backlog.

“This approach demonstrates our commitment to giving brokers the tools they need to help their clients navigate through a somewhat uncertain property market.”