HSBC rolls out BTL products to brokers

HSBC UK has announced that it is expanding the availability of its Buy To Let mortgages to mortgage brokers in a move that will see the bank’s buy-to-let products rolled out to over 13,500 independent mortgage advisers from more than 510 broker firms.

The rollout 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.

The newly refreshed Remortgage and Purchase range now includes a 2 year fixed 65% LTV no fee down to 1.69% – reduced by 0.30%, a
2 year fixed 75% LTV £1999 cut to 1.34% – reduced by 0.15%, and a 5 year fixed 65% LTV no fee now priced at 1.84% – reduced by 0.30%.

For remortgage only, highlights include a 2 year fixed 65% LTV £1999 fee down to 1.14% – reduced by 0.35% and a 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 tranquillity, 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.”

Credits: Warren Lewis