HSBC makes "fundamental changes" to BTL range

The new range is available from Monday 7 September, following changes made earlier in the year to make Buy To Let mortgages available to more HSBC customers and launching Buy To Let further advances.

As part of its policy changes, HSBC is reducing the rental cover required to 125% from 130%, increasing the maximum LTV on Buy To Let further advances to 75% from 60% LTV, and assessing the Buy To Let mortgage application on rental income only.

Changes to HSBC’s Buy To Let mortgage pricing include:

- Introducing new 60% and 70% LTV products;
- A new £349 booking fee option; and
- Introduction of discounted booking fees for HSBC Premier and HSBC Advance customers, e.g. for customers with these accounts a £349 booking fee will be reduced to just £99.

HSBC’s Buy To Let range includes the following rates:

- 60% LTV 2 year fixed at 2.19% with £1,999 fee
- 60% LTV tracker at 2.99% with £1,999 fee
- 75% LTV 2 year fixed at 2.79% with £1,999 fee
- 60% LTV 5 year fixed at 3.29% with £1,999 fee

Tracie Pearce, Head of Mortgages at HSBC, said:

"We’ve sharpened our offering and expect to be able to help even more customers achieve their Buy To Let ambitions.
“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.”