HSBC UK expands availability of buy-to-let mortgages
Some 13,500 independent mortgage advisers from more than 510 broker firms can now include HSBC UK’s buy-to-let deals within their advice to clients.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.HSBC UK is expanding the availability of its buy-to-let mortgages to brokers.
Previously, landlords needed to go directly to the bank for an HSBC buy-to-let mortgage.
But now, some 13,500 independent mortgage advisers from more than 510 broker firms can include HSBC UK’s buy-to-let mortgages within the advice they give their clients.
The pandemic and subsequent lockdowns have shown how important the rental sector is
The bank has also reduced rates within its buy-to-let mortgage range.
Michelle Andrews, HSBC UK’s head of buying a home, said: “The pandemic and subsequent lockdowns have shown how important the rental sector is, as tenants reassess their housing needs post-lockdown.
“While some city dwellers are moving away from traditional commuter hubs in the search for space and tranquillity, others are returning to city life.
“Renting gives people important flexibility if they are moving to a new area, similar to ‘try before you buy’.
“There is also a population of new ‘accidental landlords’ who may have used the lockdowns as a reason to move in with a loved one or a friend as a solution to living alone, and have subsequently made a decision to make it permanent, leaving them with a property that can be rented out.
“Following this challenging 18 months, the buy-to-let market is starting to reflect the greater tenant demand, with continued record low interest rates helping to drive this growth.”
Nationwide Building Society meanwhile has unveiled a “one-stop shop” to help landlords manage their properties in one place.
The Landlord Works aims to help improve rental standards across the UK by offering access to education and support, Nationwide said.
It will help landlords manage and keep track of their properties and finances, providing free resources for landlords who are both members and non-members of Nationwide.