HSBC UK will increase rates across a range of two-year and five-year fixed mortgages from 7 September, affecting residential borrowers, landlords and international customers.
The lender’s notice to intermediaries covers purchase and remortgage products, including its energy-efficient home ranges. It does not specify the size of the increases or the new rates.
RESIDENTIAL CHANGES
For first-time buyers and home movers, the increases apply to two-year and five-year fixed Fee Saver mortgages at 60%, 70%, 75%, 80%, 85%, 90% and 95% loan-to-value (LTV).
Standard and Premier Exclusive products will rise at the same LTV tiers up to 90%, while High Value mortgages are affected at tiers from 60% to 85%.
The lender will also increase two-year and five-year fixed rates in its Energy Efficient Home purchase range for properties with an energy performance certificate rating of A or B. The changes cover Fee Saver products at tiers from 60% to 95% LTV and Standard products from 60% to 90%.
For residential remortgages, increases cover two-year and five-year fixed Fee Saver, Standard and Premier Exclusive products at 60%, 70%, 75%, 80%, 85% and 90% LTV. High Value remortgage products are affected at tiers up to 85%.
Fee Saver and Standard products in the lender’s cashback remortgage range will also rise at tiers from 60% to 90% LTV. The same applies to its Energy Efficient Home remortgage and cashback remortgage ranges.
BUY-TO-LET REPRICING
Buy-to-let purchase increases cover two-year and five-year fixed Fee Saver products at 60%, 65% and 75% LTV, alongside Standard products and the £3,999 Standard range at 60%, 70% and 75%.
Premier Exclusive Fee Saver and Standard purchase products will rise at 60%, 65% and 75% LTV. Those tiers are also affected in the Energy Efficient Home buy-to-let purchase range.
For buy-to-let remortgages, two-year fixed Fee Saver and Standard products will increase at 60%, 65%, 75% and 80% LTV, while five-year versions are affected at 60%, 65% and 75%. The same term and LTV combinations apply to Premier Exclusive Fee Saver and Standard remortgages and the Energy Efficient Home remortgage range.
The two-year and five-year fixed £3,999 Standard buy-to-let remortgage products will rise at 60%, 70% and 75% LTV.
INTERNATIONAL PRODUCTS AND SUBMISSION DEADLINE
HSBC UK will also raise two-year and five-year fixed Fee Saver, Standard and Premier Exclusive rates in its international residential and remortgage range at 60%, 70% and 75% LTV. International buy-to-let Fee Saver and Standard products are affected at the same tiers.
The deadline for submitting applications in full to secure existing product codes was midnight on 4 September. Evidential and supporting documents must be supplied within 30 calendar days of submission.
The lender’s product finder and sourcing systems will be updated for 7 September. No other interest rates are changing under the notice.
HSBC UK also reminded intermediaries that Premier mortgage rates are available only to existing HSBC Premier current account holders. Where an account is not open before submission, a Standard range product must initially be selected.
