HSBC adds 95% LTV deals through brokers

HSBC is adding a range of 95 per cent LTV mortgages through its broker partners.

The deals are available for two, three, or five year fixed rates and come with no booking fee.

The range is available to first-time buyers and those looking to move house and come with interest rates starting at 3.49 per cent for a two-year fix.

Free valuations are available and no product fee applies. Mortgages are available for up to £400,000 for a maximum term of 30 years.

HSBC UK head of retail products Tracie Pearce says: “Much has been publicised about the difficulty first-time buyers face breaking into the housing market, particularly in London and the South East.

“Nevertheless, there is still a really strong desire for home ownership, with as many as 59 per cent of first time buyers recently telling us that they would be open to the idea of buying with someone they do not know.

“But with only a 5 per cent deposit required for our new range of mortgages, no booking fees, free standard valuations, and stamp duty exemption up to £300k, we hope to help first time buyers get a footing in the market with very little initial outlay. And with historically low interest rates monthly payments can end up being less than rent in some cases.

“The vast majority of prospective first time buyers prefer having a helping hand through the home buying process, so we are pleased to initially make our 95 per cent LTV mortgages available through our broker partners.”

HSBC has 27 broker partners and including recent additions John Charcol, JLM Mortgage Services, Private Finance and Andrews Estate Agents.

Recommended

Money

HSBC scraps valuation fees

HSBC is removing valuation fees on its mortgages from today, the bank announced today. The move means customers will taking out mortgages between £150,001 and £200,000 would save £173. HSBC UK head of retail products Tracie Pearce says: “We are working to improve the home-buying process and this is a significant move, making it simpler […]

HSBC-Logo-Branch-Building-700x450.jpg

HSBC to launch ‘gamechanger’ broker platform

HSBC is bringing in a new software platform for brokers to replace its current system. Capita has made the new software, which is designed to give a single platform to make it easier for brokers to transact, upload documents and track details of mortgage applications and decisions. The new system will give brokers a single […]

House-and-Calculator-Mortgage-Property-700.jpg

First Direct offers free valuations on all loans

First Direct is offering a free standard valuation across its mortgage range. The still deal applies if property purchases fall though and multiple standard valuations are required. In addition, the lender has removed its £51 re-inspection fee. A First Direct statement says: “There are no changes to rates at this time.” First Direct head of products […]

Thumbnail

Under the radar – Fit for Work and sickness absence

Earlier this month we sat in on a presentation delivered by the Fit for Work service, and this session did highlight one small but important change to the offering that we must admit had slipped under our radar. The Sickness Absence Review published in 2010 suggested that the Independent Assessment Service (now branded Fit for Work) should have three access points; referral by […]

Newsletter

News and expert analysis straight to your inbox

Sign up
Comments
  • Post a comment
  • Graham Kennedy 26th March 2018 at 6:21 pm

    That’s great if you have access to HSBC which most of us don’t! Just the chosen few so far. These news articles get really annoying when they only apply to the minority. I am sure I won’t be the only one irritated by it.