See the latest announcement from HSBC below. Note that you can access HSBC via the Brilliant Solutions mortgage club but the lender does place some restrictions on access. Contact us for details.
HSBC Mortgage Product Guides are available here but check the date to ensure it has been updated to reflect the announcements below.
We’ve changed our Buy to Let (BTL) lending policy
With effect from Monday 6th October, we have introduced Top Slicing for BTL mortgage applications.
Top Slicing allows HSBC UK to consider the borrower’s personal disposable income (in addition to rental income) to support the Interest Cover Ratio (ICR).
Applications which do not meet the affordability criteria, using rental income only, can be assessed using our Top Slicing policy:
- Minimum income requirement of £50,000
- Minimum stressed ICR of 110%
Our Broker website and BTL Affordability Calculator have been updated to reflect the above changes.
Current Service Levels
Please note, our Service Levels are now updated daily on the broker website. Before contacting our Broker Support Team for a case update, please check the case tracking facility and the messages section on our broker portal.