You are here: Home - First Time Buyers - News -

HSBC maintains 95 per cent mortgages

Written by: Lana Clements
The bank remains the only large lender not to have halted higher loan-to-value lending during the coronavirus crisis
HSBC maintains 95 per cent mortgages

HSBC has become a lifeline to borrowers with low levels of equity, as the bank continues to offer mortgages at up to 95 per cent loan to value (LTV).

However the availability of these deals is subject to demand.

The bank is the only big lender not to have withdrawn higher LTV deals, as others cut down on risk and focus resources on existing customers.

Remortgages are offered at up to 90 per cent LTV, while applications are still being accepted at 95 per cent LTV for purchases.

A spokesman for HSBC said: “There are no current plans to change our mortgage lending approach at this stage, though clearly we will have to monitor service levels in these unprecedented times.”

Buyers and sellers have been advised by the government to delay moving dates while restrictions on social distancing remain in place.

However, many borrowers will still need to remortgage during this time or else face hefty repayments based on their lender’s standard variable rate (SVR).

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Sorry. No data so far.

Guide to borrowing past retirement age

As an older borrower, you may be concerned that a lender will not offer you a mortgage pas...

Mortgage market biased against homeowners

Buy-to-let property investors are unfairly favoured in the mortgage market, an independent...

Should buy-to-let investors ‘go Dutch’?

The Netherlands is revealed as Europe’s top buy-to-let property hotspot

Private sector tenants in poverty double in decade

The number of private rented sector tenants in poverty has doubled in the last decade from...

Large mortgage broker firm launches with fees of over 1%

An insurance firm has launched a mortgage advice service

Second steppers targeting detached properties

Those living in their first home are increasingly looking to reduce the steps to their lon...

Mortgage Calculators

Read previous post:
Yorkshire Building Society restricts mortgage lending

The mutual is the latest provider to limit its lending to borrowers with larger deposits