The expansion of HSBC UK’s international BTL mortgages will allow over 23,000 mortgage brokers in the UK to facilitate UK property investments for residential across 14 countries and regions.
HSBC UK has grown its BTL and international BTL availability, with residents from Egypt, Malaysia, the Philippines, Qatar and Taiwan now able to invest in the UK property market through BTL and residential mortgages through the lender.
Those from Australia, Hong Kong, Singapore, Switzerland, the UAE, the US, Guernsey, the Isle of Man and Jersey can also access the bank’s international services.
According to HMRC data, investments in the UK property market by international investors grew in 2023, accounting for 1.4% of all property transactions in the year ending March 2023. This is a 20% increase on the prior year.
‘Ideally placed to support our brokers’
Chris Pearson (pictured), head of intermediary mortgages at HSBC UK, said: “Our broker partners provide us with a critical barometer around how we shape our proposition in order to help even more customers with their mortgage needs.
“That’s why the introduction of an international buy-to-let offering, plus the incorporation of another five countries to our roster, will be a great addition to their suite of products. With HSBC’s global heritage, we are ideally placed to support our brokers in this market segment.”
Emma Hollingworth, head of specialist lending at HSBC UK, said: “Investment into the UK property market by overseas investors can help towards keeping the important balance of supply and demand, potentially helping keep a lid on rental prices, which is important at a time when cost-of-living challenges are still with us and maintaining financial resilience is key.
“We are excited to be expanding availability of our international buy-to-let mortgages to brokers in addition to accepting applications from residents in five more countries.
“With demand for rental properties remaining high, we hope our expansion in the international buy-to-let market could open up new mortgage corridors and support growth in the private rented sector [PRS], whilst at the same time being a stable investment for our international customers.”
