HSBC makes changes to residential and buy-to-let mortgage products

HSBC Bank has made changes to its residential and buy-to-let (BTL) mortgage product ranges.

The new terms, effective from 28th June, come as the bank joins other lenders in repricing in light of changing market conditions.

Residential products will be withdrawn from the market at 5 pm on 27th June. The current residential product switch, BTL, and International ranges will remain open until midnight.

The changes affect several groups of customers. Existing residential customers switching will see decreases in the 2-year Tracker Fee Saver at 95% loan-to-value (LTV) and increases in 2, 3 & 5-year fixed Fee Saver, 2, 3 & 5-year Fixed Standard, and the 5-year Premier Exclusive at multiple LTV percentages. Additionally, the 10-year fixed Fee Saver and 10-year fixed Standard at several LTV percentages will be increased.

Existing residential customers borrowing more will see increases in their rates at various LTV percentages.

Similarly, first-time buyers or home movers, remortgagers, and international residential purchasers will also see increases in their rates at multiple LTV percentages.

Finally, existing BTL customers switching or borrowing more and BTL purchases or remortgages will also see a rise in their rates at 60%, 65%, and 75% LTV.