HSBC has announced it is making its buy-to-let mortgage range available to existing customers holding HSBC Advance and Premier accounts.
HSBC Advance is a free current account; to qualify customers must pay in £1,750 a month.
Existing HSBC buy-to-let mortgage holders borrowing more are not required to hold an HSBC Premier or HSBC Advance account in order to apply.
HSBC has a maximum lending criteria; up to a maximum of £500,000 for HSBC Advance customers and £2 million for Premier customers. This applies to all buy-to-let lending a customer holds, regardless of the lender. The maximum loan-to-value (LTV) on HSBC buy-to-let mortgages is 75 per cent.
“We’ve listened to our customers and have made it much simpler and easier for them to invest in buy-to-let properties with us. From today, more than 1.3million HSBC Advance customers now have access to our fantastic buy-to-let range, as well as the market-leading residential mortgages and regular savings rates they already enjoy,” Tracie Pearce, head of mortgages at HSBC, said.
HSBC’s top Advance buy-to-let rates are:
- 65% LTV 2 year fixed rate – 2.59% with £1999 fee
- 65% LTV 2 year fixed rate – 3.39% with £99 fee
- 75% LTV 2 year fixed rate – 3.09% with £1999 fee
- 75% LTV 2 year fixed rate – 3.89% with £99 fee
HSBC’s Premier buy-to-let rates are:
- 65% LTV 2 year fixed rate – 2.29% with £1999 fee (market leading)
- 65% LTV 2 year fixed rate – 3.09% with £99 fee (market leading)
- 75% LTV 2 year fixed rate – 2.79% with £1999 fee
- 75% LTV 2 year fixed rate – 3.59% with £99 fee
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