HSBC UK reduces all buy to let mortgage fixed rates and removes £349 fee
In a further move that will provide consistency with its ‘standard’ mortgage range where there is a fee-paying option and a ‘Feesaver’ option, from today the bank is removing the £349 product fee from its range, taking it to zero, including on its BTL Tracker mortgage range.
The rate changes include:
- 60% LTV 5 year fixed rate (£0 fee) reduced by 0.15% to 2.09%;
- 60% LTV 2 year fixed rate (£1,999 fee) down by 0.15% to 1.39%;
- 75% LTV 2 year fixed rate (£1,999 fee) cut by 0.15% to 1.64%; and
- 75% LTV 5 year fixed rate (£0 fee) reduced by 0.10% to 2.29%.
Michelle Andrews, HSBC UK’s Head of Buying a Home, said: “With a significant increased demand for rented properties, the Buy To Let market has seen a sharp bounce back in recent months. With many people having changed their priorities during the Covid crisis and looking to move out of cities into new areas, renting is a great ‘try before you buy’ option, which is feeding BTL demand.
“We are lowering all rates in our Buy To Let range in addition to removing our £349 product fee, which will make mortgaging or remortgaging with HSBC UK significantly cheaper for amateur landlords.”
Media enquiries to:
Steve Gracey, HSBC UK Media Relations | steve.gracey@hsbc.com | 020 7991 4118
Email: UKPressOffice@hsbc.co.uk
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HSBC UK
HSBC UK serves around 14.5 million customers across the UK, supported by 32,000 colleagues. HSBC UK offers a complete range of retail banking and wealth management to personal and private banking customers, as well as commercial banking for small to medium businesses and large corporates.
HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2,959bn at 31 March 2021, HSBC is one of the world’s largest banking and financial services organisations.