HSBC expands buy-to-let mortgage availability to brokers

HSBC expands buy-to-let mortgage availability to brokers

 

This follows the confirmation that the bank would become a whole of market proposition by the end of this year, as revealed at Mortgage Brain’s Mortgage Vision event in March. 

The bank said this recent move now gave over 13,500 advisers from 510 firms access to its BTL  range. 

This also comes after HSBC revised its BTL products with reductions of up to 0.35 per cent on fixed rate deals across all loan to value (LTV) tiers and cuts of up to 0.45 per cent on tracker products. 

Rate changes include the 0.3 per cent cut to its two-year fixed rate purchase and remortgage product at 65 per cent LTV, which now has a rate of 1.69 per cent. Its remortgage only two-year fixed rate deal at 65 per cent LTV has fallen by 0.35 per cent to 1.14 per cent. 

Michelle Andrews (pictured), HSBC UK’s head of buying a home, said: “The BTL market may be 25 years old, but it is still evolving. While some city dwellers are moving away from traditional commuter hubs in the search for space and tranquility, others are returning to city life.” 

Andrews added: “Following this challenging 18 months, the BTL 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 BTL properties. 

“We want to support more homeowners through every stage of the mortgage journey, and providing brokers with access to our BTL range of mortgages will extend the availability of our products.”