HSBC overhauls B2L mortgage range

HSBC-700x450.jpg

HSBC has overhauled its buy-to-let mortgage range and is making the products to non-HSBC customers for the first time.

The new range will also see the rental cover requirements reduced from 130 per cent to 125 per cent, and the maximum loan-to-value available on further advances increase from 60 per cent to 75 per cent.

Buy-to-let mortgage applications will also be assessed on a rental income basis only.

New 60 per cent and 70 per cent LTV deals will be available as part of the range, as well as a £349 booking fee option and discounted booking fees to £99 for HSBC customers with either a Premier or Advance bank account.

HSBC head of mortgages Tracie Pearce says: “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.”