HSBC accepts overtime as mortgage rates are cut

HSBC accepts overtime as mortgage rates are cut


Under the lender’s altered policy on variable pay the most recent payment must have been received in 2021.

Quarterly, half-yearly or annual bonus payments can also be used to support mortgage affordability.

Following the rate cuts, HSBC now offers a 90 per cent LTV two-year fix if 3.44 per cent fee-free or 3.24 per cent with a £999 fee.

Five-year equivalents are available at 3.44 per cent or 3.64 per cent fee-free.

At 85 per cent LTV, the lender offers a two-year fix of 2.54 per cent with £999 fee or fee-free at 2.84 per cent.

Five-year equivalents are priced at 2.84 per cent or 3.14 per cent fee-free.

Michelle Andrews, HSBC UK’s head of buying a home (pictured), said: “We are all looking forward to normality returning, and the inclusion of overtime, commission and bonuses to support a mortgage application is one bit of normality that will be welcomed by many looking to move onto or up the property ladder.”