HSBC introduces a new lineup of mortgage offerings tailored for brokers, specifically targeting the Buy To Let market. This strategic move aims to provide enhanced opportunities for brokers to meet the diverse needs of their clients. The newly introduced Buy To Let mortgage offerings from HSBC are designed to empower brokers with a versatile range of options, catering to the dynamic landscape of property investment.
This initiative underscores HSBC’s commitment to fostering collaborative relationships with brokers and facilitating seamless access to tailored financial solutions in the ever-evolving real estate market. By expanding its mortgage portfolio, HSBC reaffirms its dedication to supporting the growth and success of property investors, ultimately contributing to the broader landscape of the real estate industry.
Mortgage Offerings | HSBC rolls out BTL products
HSBC UK has revealed plans to broaden the accessibility of its Buy To Let mortgages, extending the reach to mortgage brokers in a strategic initiative. This strategic move involves distributing the bank’s buy-to-let products to a substantial network, encompassing over 13,500 independent mortgage advisers associated with more than 510 broker firms.
This expansion aims to fortify HSBC UK’s presence in the mortgage market and foster collaboration with a diverse range of brokers across the industry. With this strategic pivot, the bank anticipates an enhanced footprint and engagement with an extensive pool of professionals in the mortgage advisory sector.
The rollout comes as the bank refreshes its Buy To Let mortgage offerings, 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 mortgage offerings.
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 maybe 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 move 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.”
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