HSBC opens up overseas BTL loans to UK brokers – Mortgage Finance Gazette
HSBC has opened up its international buy-to-let mortgages to UK brokers for the first time.
The bank says the service covers 14 countries and regions, including Australia, Hong Kong, Singapore, Switzerland, UAE, USA, Guernsey, Isle of Man and Jersey.
It has also expanded the availability of its international BTL mortgages by offering residents from an additional five countries — Egypt, Malaysia, Philippines, Qatar and Taiwan — the option to invest in the UK property market through BTL and residential mortgages with HSBC UK.
Foreign buyers in the UK residential property market accounted for 1.4% of all transactions in the year to the end of last March, up 20% on the previous 12 months, according to HM Revenue & Customs data.
HSBC UK head of intermediary mortgages Chris Pearson says: “Our broker partners provide us with a critical barometer around how we shape our proposition in order to help even more customers with their mortgage needs.
“That’s why the introduction of an international BTL offering, plus the incorporation of another five countries to our roster, will be a great addition to their suite of products.
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