How much of a deposit do you need for an HSBC buy-to-let mortgage?
HSBC for Intermediaries has lowered the size of the deposit landlords need to access its buy-to-let mortgages. Landlords will now need a 20% deposit for an HSBC buy-to-let mortgage rather than a 25% deposit.
The maximum loan size will be capped at £400,000 on HSBC's 20% deposit buy-to-let rates and properties must have an EPC rating between A-C to qualify. There is a £1,999 arrangement fee and the five-year fixed rate is priced at just below 5.15%.
Aaron Strutt, product director at Trinity Financial, says: "HSBC is trying to boost the buy-to-let market and attract more landlords by easing its qualification requirements. HSBC offers some surprising cheap buy-to-let rates with two- and five-year fixes at just over 4% for landlords with larger deposits. They do have larger arrangement fees, but they also have some decent lower fee options.
"Quite a few lenders are offering 20% deposit buy-to-let rates at a time when many landlords are either exiting the market or switching to limited company buy-to-lets. The issue with these lower deposit rates is the rental stress tests, properties need to have really strong rental yields for the figures to stack up. Moneyfacts data recently showed a record number of buy-to-let rates offered by the banks and building societies."
Call Trinity Financial on 020 7016 0790 to secure a buy-to-let mortgage, book a consultation, or complete our mortgage questionnaire.
The information contained within was correct at the time of publication but is subject to change.
Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
