HSBC UK has reduced most buy-to-let (BTL) and all international BTL mortgages, with rates across both reducing by up to 0.30%.
The lender’s BTL purchase 75% loan-to-value (LTV) five-year fixed rate with a fee of £1,999 has been lowered by 0.30% to 4.64%, while the 60% LTV equivalent is down by 0.20% to 4.54%.
The BTL remortgage 75% LTV two-year fixed rate with a fee of £1,999 has been reduced by 0.21% to 4.84% while the 60% equivalent is down by 0.20% to 4.69%.
For its BTL switchers, the 60% LTV five-year fixed rate with a fee of £1,999 has been cut by 0.25% to 4.44% while the 75% LTV two-year fixed down 0.20% to 4.84%.
HSBC also announced that it has reached the “major milestone” of 1,000 broker firms, covering over 23,000 individual brokers, with access to its mortgages.
HSBC UK head of intermediary mortgages Chris Pearson says: “The world has changed a lot since we carried out a pilot with one provider in 2014, but the industry continues to show its resilience and ability to handle and overcome challenges that come its way. Something we should all be very proud of.”
“Since our successful pilot in 2014, we slowly and steadily increased our reach, onboarding a few broker firms at a time to ensure we had the infrastructure and pairs of hands needed to provide a very good service to those brokers who trusted us with their business.”
Pearson adds: “I’ve been around long enough to be certain that this is a very resilient industry and is well served by hugely talented people. At HSBC UK, we are very much up for what 2023 may bring and our support and optimism for the industry we serve continues to shine brightly.”