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HSBC increases high LTV rates in product update

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  • 04/09/2020
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HSBC increases high LTV rates in product update
HSBC has increased interest rates across its product offering including at 85 per cent loan to value (LTV) – its highest LTV new business range.

 

Earlier in the week the lender stopped taking new business at 90 per cent LTV, noting that it had seen “very significant increased demand for higher LTV mortgages”.

Rates have now been increased by up to 0.25 per cent as it is understood the lender took several factors into account, including managing demand following its announcement this week.

At 85 per cent, LTV two-year fixes have been increased by 0.15 and 0.2 per cent with a £999 fee and without a fee to 1.99 and 2.44 per cent respectively.

Likewise, five-year deals have increased by 0.15 and 0.25 per cent to 2.49 and 2.79 per cent respectively, while the two-year tracker has been increased by 0.25 per cent to 2.29 per cent plus the Bank of England base rate.

Rates on products in the 60, 70, 75 and 80 per cent LTV ranges have all been increased by between 0.1 per cent and 0.25 per cent.

The 90 per cent LTV range is still available for internal customer switches and these rates have also been increased by up to 0.25 per cent.

 

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