Mortgage Offerings
HSBC introduces new mortgage offerings for brokers, focusing on the Buy-to-Let market. This move enhances brokers’ opportunities to meet their client’s diverse needs and empowers them with versatile options for property investment.
This initiative underscores HSBC’s commitment to fostering collaborative relationships with brokers. It facilitates seamless access to tailored financial solutions in the evolving real estate market. By expanding its mortgage portfolio, HSBC reaffirms its dedication to supporting property investors’ growth and success, ultimately contributing to the broader landscape of the property industry.
Mortgage Offerings | HSBC rolls out BTL products
HSBC UK plans to expand its Buy To Let mortgages, making them accessible to mortgage brokers. This strategic move will distribute the bank’s products to over 13,500 independent mortgage advisers from more than 510 broker firms.
This expansion aims to strengthen 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 expects an enhanced footprint and greater engagement with professionals in the mortgage advisory sector.
The rollout coincides with a refresh of the bank’s Buy-to-Let mortgage offerings. Rates across all LTVs have been reduced by up to 0.35%. All fixed-rate Buy-to-Let mortgages have been lowered, with selected tracker BTL mortgage rates cut by up to 0.45%.
The refreshed Remortgage and Purchase range now includes a two-year fixed 65% LTV with no fee, reduced to 1.69%. The two-year fixed 75% LTV with a £1999 fee is now at 1.34%, and the five-year fixed 65% LTV with no fee is priced at 1.84%.
For remortgages only, highlights include a two-year fixed 65% LTV with a £1999 fee, now at 1.14%. The two-year fixed 75% LTV with no fee is now at 1.84%.
Michelle Andrews, HSBC UK’s Head of Buying a Home, commented on the evolving Buy To Let market. She noted the pandemic’s impact on the rental sector as tenants reassess their housing needs post-lockdown.
City dwellers move away from traditional hubs in search of space and tranquillity, while others return to city life. Renting offers flexibility for those relocating to new areas, akin to ‘try before you buy.’
Additionally, new ‘accidental landlords’ have emerged. Many used the lockdowns to move in with loved ones or friends, leaving properties available for rent.
After a challenging 18 months, the Buy-to-Let market reflects greater tenant demand. Record low interest rates continue to drive this growth. Our rate refresh makes purchasing or remortgaging Buy-to-Let properties more affordable.
We aim to support homeowners through every stage of the mortgage journey. Providing brokers with access to our Buy To Let range extends the availability of our BTL mortgages.
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