Head of Content
Mortgage Advisor & Director
Handelsbanken
About Handelsbanken
Handelsbanken are a private bank that opened its first UK branch in 1982, having been founded in Sweden. They focus on providing finance for wealthier clients, family units, business owners and private individuals, and offer a range of specialist mortgages.
You can view mortgages rates from across the market to see how they compare with Handelsbanken’s latest deals for free below:
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What type of mortgages do they offer?
Handelsbanken has a wide mortgage product range divided into the follow categories:
- Residential mortgages: Fixed rate, trackers and offset mortgages are available.
- Remortgages: As a decentralised bank they can make quick, in-branch decisions on remortgage applications.
- Buy-to-let: Available for everyone from first-time landlords to portfolio holders.
- Additional secured lending: They offer a range of solutions for customers who want to borrow extra for purposes such as home improvements.
- Self-build mortgages: Available for borrowers who are building their own home.
- Other property finance: Handelsbanken also provides niche types of property finance, including commercial mortgages and land, forest and agricultural finance.
The Swedish lender’s product line includes 2, 3, 4, 5 and 10 year fixed-rate mortgages, as well as 1, 2, 3 and 5-year tracker mortgages. These mortgages can be taken out on a capital repayment, interest-only, or part-and-part basis, offering a choice of repayment type.
Eligibility criteria
Handelsbanken’s general eligibility criteria is as follows:
- Deposit requirements: As Handelsbanken are a specialist lender, their deposit requirements are slightly higher than on the high street, starting at 15% (85% LTV).
- Credit history: They do not specify a policy on adverse credit, but as a specialist lender, Handelsbanken has flexibility to assess bad credit on a case-by-case basis.
- Mortgages sizes: Their minimum mortgage size is £5,000. At the other end of the scale, their standard product range has an upper lending cap of £2 million, but they will offer larger mortgages than this under their specialist lines.
- Property location: Handelsbanken will lend in England, Wales and Scotland, but will only accept standard security (properties free on unusual characteristics) in the latter.
- Other requirements: All borrowers must be aged over 18, be a UK resident and must not be aged over 80 by the end of the mortgage term.
Please note that the above criteria largely applies to Handelsbanken’s residential range. Specialist products like investment mortgages and self-build have additional criteria to meet.
What rates should you expect?
Although Handelsbanken are a specialist lender, their mortgage rates are largely competitive with some high street banks and other mortgage providers.
The exact rate you will end up with will depend on the LTV and the product type, among other factors.
You can compare the latest rates from Handelsbanken with their competitors from across the market for free with our mortgage-sourcing tool.
How much will they let you borrow?
Handelsbanken calculates mortgage affordability based on 4.5 times the applicant’s annual salary. You can find out what that will amount to for you and compare it to the high income multiples some other lenders use by entering your income into our calculator below:
Are Handelsbanken a good mortgage lender?
They have a solid reputation as a lender who specialises in wealthier clients and those seeking niche finance, such as self-build mortgages and finance for buying land. They currently hold a rating of 2.7/5 on consumer review aggregation service Trustpilot.
Pros and cons
Below we have highlighted the pros and cons of Handelsbanken as a mortgage lender to help you decide whether they are the right option for you:
|
Advantages |
Disadvantages |
|
A wide range of specialist products that many other lenders don’t offer |
Higher deposit requirements than some specialist mortgage lenders |
|
Rates are generally competitive |
Will not lend in Northern Ireland |
|
Offers longer introductory rates on fixed rate mortgages and trackers than some lenders |
Uses lower income multiples than some lenders to calculate affordability |
|
Flexible deals for borrowers with multiple income streams |
Some lenders offer longer mortgage terms |
How to apply for a mortgage with Handelsbanken
Handelsbanken works with mortgage brokers like Teito to ensure their clients get the best deal. You can access our free comparison service below to make sure Handelsbanken is the best lender for your needs - one of our brokers will review this for you as part of the service.
Once the best mortgage for you has been identified - whether that’s with Handelsbanken or another lender - one of our expert brokers will walk you through the next steps.
Get started here to compare the latest mortgage rates across the market and begin a free, no-obligation chat with a broker who specialises in Handelsbanken’s product line.
How Teito Works
You have two options when you get started with Teito: you can select the option to speak with an advisor straight away or source a mortgage yourself. If you want to choose your own mortgage deal, follow the steps below:
Click ‘Get Started’
Hit the button below and enter a few quick details. It takes less than 60 seconds to begin the mortgage process with us
Compare Quotes Online
Next you can view rates and deals from across the entire market online and choose the one you want in real time
Apply Online
We’ll take it from here and have an expert mortgage broker on hand to ensure you have chosen the best deal for you