If you're investing in property you want the backing of a lender who has strong market position and plenty of experience – HSBC's Buy to Let mortgages could be the answer.
We know a buy to let investment can be a big commitment, that's why we've put together a helpful guide to help consider costs, responsibilities and the risks of becoming a landlord.
Like any investment, you need to understand the risks as well as any potential upside. Our buy to let factsheet (PDF) helps to outline this for you.
Whether you're starting or expanding your property portfolio, our Buy to Let mortgages are available up to 75% loan to value.
A maximum Buy to Let lending limit applies, and other fees and charges may be payable including legal fees and charges applied by your existing lender.
To apply for our Buy to Let mortgages, you'll need to meet our eligibility criteria:
Our maximum borrowing limits take into account your total Buy to Let borrowing across all lenders and is subject to our maximum Buy to Let lending limits.
The affordability of a Buy to Let mortgage will be assessed from the property's rental income. The rent must be at least 145% of the mortgage payment, using an interest rate that takes into account the possibility of future interest rate rises. This way we can help to ensure the loan is affordable now and in the future. For example, if the monthly payment is £100 (100%), the monthly rental income must be at least £145 (145%).
To assess how much you can afford to borrow, a Rental Income affordability assessment is carried out.
Applying for a mortgage involves two stages, firstly getting a Decision in Principle; secondly making a mortgage application.
If you started a mortgage application over the phone or online, you can login to complete it or track its progress.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
† Lines open Monday to Friday 8am - 9pm, Saturday 8am - 8pm, Sunday 9am - 6pm. Calls may be monitored and recorded. Opening hours within the mortgage departments may vary.