HSBC says it has “fundamentally changed” its buy-to-let mortgage range by opening it to non-HSBC customers and stand-alone applications for the first time.
The bank is reducing the amount of rental cover required to 125% from 130% and assessing applications based on rental income only.
It is also changing its buy-to-let mortgage pricing to introduce new 60% and 70% LTV products and a £349 booking fee option.
HSBC Premier and HSBC Advance customers will now benefit from new discounted booking fees that will reduce the £349 booking fee to just £99.
Tracie Pearce, head of mortgages at HSBC, said: “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.”
HSBC’s buy-to-let range includes:
60% LTV two-year fixed at 2.19% with a £1,999 fee
60% LTV tracker at 2.99% with £1,999 fee
75% LTV two-year fixed at 2.79% with £1,999 fee
60% LTV five-year fixed at 3.29% with £1,999 fee
