HSBC increases maximum LTV for new builds and flats

HSBC has increased its maximum lending limits on residential mortgages for all flats and new build properties.

HSBC is increasing its higher LTV lending limits by 5% and will now lend up to 85% LTV on new build flats and 90% LTV on new build houses and non-new build flats. 

The bank has also removed the minimum deposit requirement of £25,000 to purchase a new build house. 

Chris Pearson, head of intermediary mortgages at HSBC UK, said: “Our priority is to ensure affordability for all our customers, while at the same time helping them onto or up the property ladder. By increasing our maximum lending tiers, we are providing more flexibility and support to first-time buyers and to those looking to move on to their next property.

“This change reflects our commitment to supporting the diverse needs of homebuyers in today’s market and ensuring that owning a home is within reach for more people. We believe these enhancements will significantly aid our customers in securing their desired properties with greater ease and confidence.”