HSBC UK expands availability of Buy To Let mortgages
HSBC UK is expanding the availability of its Buy To Let mortgages to mortgage brokers, the bank announced today.
The move means over 13,500 independent mortgage advisers from more than 510 broker firms can now include HSBC UK’s Buy To Let mortgages within the advice they give their clients.
This comes as the bank refreshes its Buy To Let mortgage range, bringing down rates across all LTVs by up to 0.35% with every one of its Buy To Let fixed rate mortgages being reduced and up to 0.45% cut on selected tracker BTL mortgages.
Highlights of the range refresh include:
Remortgage and Purchase
- 2 year fixed 65% LTV no fee down to 1.69% - reduced by 0.30%
- 2 year fixed 75% LTV £1999 cut to 1.34% - reduced by 0.15%
- 5 year fixed 65% LTV no fee now priced at 1.84% - reduced by 0.30%
Remortgage Only
- 2 year fixed 65% LTV £1999 fee down to 1.14% - reduced by 0.35%
- 2 year fixed 75% LTV no fee now at 1.84% - reduced by 0.15%
Michelle Andrews, HSBC UK’s Head of Buying a Home, said: “The Buy To Let market may be 25 years old, but it is still evolving. The pandemic and subsequent lockdowns have shown how important the rental sector is, as tenants reassess their housing needs post-lockdown.
“While some city dwellers are moving away from traditional commuter hubs in the search for space and tranquility, others are returning to city life. Renting gives people important flexibility if they are moving to a new area, similar to ‘try before you buy’.
“There is also a population of new ‘accidental landlords’ who may have used the lockdowns as a reason to move in with a loved one or a friend as a solution to living alone, and have subsequently made a decision to make it permanent, leaving them with a property that can be rented out.”
“Following this challenging 18 months, the Buy to Let market is starting to reflect the greater tenant demand, with continued record low interest rates helping to drive this growth. Our rate refresh makes it cheaper for those looking to purchase or remortgage Buy To Let properties.
“We want to support more homeowners through every stage of the mortgage journey, and providing brokers with access to our Buy To Let range of mortgages will extend the availability of our BTL mortgages.”
Media enquiries to:
Steve Gracey, HSBC UK Media Relations – steve.gracey@hsbc.com / 020 7991 4118
Email: UKPressOffice@hsbc.co.uk
Notes to editors:
HSBC UK
HSBC UK serves around 15 million customers across the UK, supported by 26,000 colleagues. HSBC UK offers a complete range of retail banking and wealth management to personal and private banking customers, as well as commercial banking for small to medium businesses and large corporates.
HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,976bn at 30 June 2021, HSBC is one of the world’s largest banking and financial services organisations.