HSBC relaunches High Value Mortgage Service targeting wealthier borrowers looking for mortgages over £1 million

by Aaron Strutt

Oct 24 2023

HSBC for Intermediaries has rebranded and improved its High Value Mortgage Service previously known as its Large Loans team.

Trinity Financial's brokers have access to the broker-only team that offers a personal service dedicated to arranging fast and competitively priced mortgage offers for loans over £1 million.

HSBC for Intermediaries is one of a limited number of banks and building societies that offer £1 million+ mortgages to borrowers at its cheapest rates, often with £999 arrangement fees.

Enhanced service for high-net-worth clients

HSBC's dedicated High Value Mortgage Service Team offer an enhanced proposition to brokers like Trinty Financial, with a straightforward three-step approach to ensure the application process runs smoothly.

1. Before submitting the mortgage application and prior to a decision in principle, brokers need to contact the High Value Mortgage Service Team to discuss the client's financial situation.

2. During the call, HSBC's team will complete a ‘Customer Assessment Form’, which captures the financial details and any other information that might assist the underwriter with assessing the case. The completed form must then be uploaded as part of the application submission to ensure it goes through as smoothly as possible.

3. Once the application has been passed for assessment, the team will call the broker who submitted the case to ensure a lending decision can be made as soon as possible.

What is HSBC's maximum mortgage loan size? 

HSBC offers a range of two-, three- and five-year fixed rates and Bank of England tracker rates. If borrowers have a 40% deposit, they can access sub-5.25% two-year fixes or five-year fixes priced at just over 4.70%. The maximum loan size for the products is £5 million, although it is possible to negotiate larger loans.

For borrowers with 25% or 30% deposits, the maximum loan size is £2 million at its cheapest rates, and if you have a 20% deposit, the maximum loan is £1 million.

Why is HSBC a good lender for £1 million+ mortgages?

HSBC can be flexible with its acceptance criteria and the bank has a can-do attitude, especially if your income is complex or you are buying an unusual property.  

The bank offers:

• Enhanced loan-to-values are potentially available for those with smaller deposits.
• Up to 5.5x single and joint incomes for those earning £100,000 and above.
• Multiple income streams are considered - for example, employed and self-employed income.
• Future rental income is considered provided it is evidenced via an ARLA letter or let-to-buy mortgage offer.
• Investment income is used for mortgage affordability purposes. 
• Customers based overseas are accepted, provided they are from one of HSBC's approved countries.
• Non-GBP income is accepted, including overseas self-employment and rental income.
• For Limited Companies, a share of net profit can used for income. No minimum shareholding is needed to include larger Limited Liability Partnerships. A letter from the Finance Director should also be accepted.
• One year’s self-employment can be accepted, although a two-year average is applied.
• Trust income accepted. 
• Multiple repayment plans are considered as an interest-only repayment vehicle.

How does HSBC compare to other banks and building societies? 

HSBC for Intermediaries regularly provides the most competitively priced mortgage rates. Still, there is a lot of competition to attract borrowers, so it is wise to assess the whole market before going with one bank or building society. 

Call Trinity Financial on 020 7016 0790 to secure a £1-million+ mortgage through HSBC or book a consultation

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