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.
Great news – we’ve reduced our Buy to Let stress rates
From today, Monday 5th January we’ve reduced the stress rates used in our domestic Buy to Let affordability calculations.
Stress rates are an important part of the assessment when understanding mortgage affordability for your customers. By reducing these rates whilst maintaining responsible lending standards, we are helping more landlords enter or remain in the Buy to Let market at a time of ongoing affordability pressures.
To further support you and your customers we have simplified how we calculate the Buy to Let stress rates as follows:
As a reminder, we enhanced our domestic Buy to Let LTVs earlier this year – please refer to the below table:
Please note, that the policy limit of 80% LTV cannot be exceeded by capitalising the booking fee.