Lender also cuts cashback on its Energy Efficient Homes offering
HSBC has rolled out a series of updates to its Premier mortgage offerings, making changes across both residential and buy-to-let segments. The adjustments include new fixed rate options and revised cashback incentives.
The bank has launched Premier-exclusive two- and five-year fixed-rate BTL products, available in both fee-paying and fee-saver formats. These loans are being offered at loan-to-value (LTV) ratios of 60%, 65%, 75%, and 80%.
The updated products are available for purchases, remortgages, and existing Premier mortgage customers. The updated rates and incentives are only available to existing HSBC Premier current account holders.
HSBC has also reduced cashback amounts for first-time buyers, home movers and remortgagors under its Residential Energy Efficient Homes (EEH) range.
Aside from announcing the latest mortgage product changes, the high street lender has advised brokers to check their client’s eligibility before applying. Those who open a Premier account after submitting an application may request a rate change by completing an amendment form.
Meanwhile, Family Building Society has revised several products across its owner occupier and BTL ranges. Reductions include a five-basis point (bps) cut to two-year fixed owner occupier interest-only rates and a 10bps drop in two-year fixed repayment products.
The lender also introduced two new two- and five-year fixed interest-only products at 80% LTV with no cap on loan size. For BTL borrowers, two-year fixed-rate deals have been reduced by 10bps, while five-year fixed BTL rates remain unchanged. However, five-year fixed Owner Occupier repayment rates increased by 15bps.
In a further move, the lender expanded its Joint Borrower Sole Proprietor (JBSP) offering by increasing the maximum loan amount to £1 million. The changes also included revised lending thresholds across its repayment range, such as an increase from £500,000 to £750,000 at 80% LTV, and up to £1 million at 75% LTV.
Family Building Society also widened access to its house in multiple occupation (HMO) mortgage range, which was previously limited to selected brokers. These products are now available to all intermediaries.
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