The revamped range, available with immediate effect, will see the rental cover requirement reduced from 130% to 125% of the mortgage payment and will also include more loan-to-value (LTV) options at 60% and 70% LTV.
Last year, HSBC announced it would start to offer its mortgages through Countrywide Mortgage Services, while furthering its broker offering with London & Country Mortgages in July this year.
HSBC’s buy-to-let range will now be available to non-HSBC customers and standalone applications and will see the maximum LTV on further advances increased to 75% from 60%. A new £349 booking fee option has been introduced as well as discounted booking fees for HSBC Premier and Advance customers.
Applications will be assessed on a rental income basis only.
Highlights in the range include a 60% LTV two-year fixed mortgage at 2.19% with £1,999 fee and a 75% LTV two-year fixed rate at 2.79% with £1,999 fee.
Tracie Pearce, head of mortgages at HSBC, said: “We’ve sharpened our offering and expect to be able to help even more customers achieve their buy-to-let ambitions.
“The availability of buy-to-let products is now at its highest point since 2008. High rents and low interest rates mean customers are increasingly seeing buy to let as an attractive investment opportunity. The policy and pricing changes we have made will make our range available to even more people,” she added.
