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HSBC increases LTV to 75% on trackers

HSBC is increasing its loan-to-value maximum from 60% to 75% on its 2.95% tracker mortgage, from Monday.

The bank estimates that 20% of mortgage holders in the UK have between 25 and 40% equity in their homes, so this move enables an additional one in five UK mortgage holders to apply for the mortgage.

HSBC’s range of up to 75% LTV products will also include a 3-year fixed rate mortgage at 3.99% with a £599 fee.

Martijn van der Heijden, head of mortgages at HSBC, says: “The message is clear, we are open for business and well placed to help borrowers. By widening our maximum loan to value percentages to 75% on some of our best buy mortgages, over two million more homeowners can now apply for them.”

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