HSBC is reintroducing its 90 percent loan to value (LTV) mortgages.

HSBC is reintroducing its 90 percent loan to value (LTV) mortgages next week.

 It will be making two and five-year fixed rate options available for purchase and remortgage, with terms available up to a maximum of 35 years.

Rates will be released on Tuesday 12 January when the product range goes live, with maximum loan amounts of £400,000.

The lender was one of the last high street names to maintain its range to that level during the pandemic and finally withdrew to protect service levels in September.

Speaking at The Mortgage and Protection Event in November, HSBC UK head of south region and large loans Amanda Fenner confirmed only the volume of demand was keeping HSBC out of the 90 per cent LTV space.

With Accord, Barclays, Halifax, NatWest, Aldermore and Coventry Building Society re-entering over the last six weeks there is now far more capacity in the market.

However, Fenner also noted there was a lot more caution about going to 95 per cent LTV given steep property price rises over the last year and the effect of the stamp duty holiday.

“I don’t think 95 percent LTV lending is going to come back anytime soon, but it’s still one we’re watching,” she said.

Announcing the re-launch, HSBC UK head of buying a home Michelle Andrews said she was pleased to be re-introducing mortgages at up to 90 percent LTV.

“These mortgages build on our significant support for brokers and mortgage customers throughout 2020 and will be available across the board – for home purchases, first-time buyers and to those remortgaging – all up to a maximum of 35 years,” she said.

“The new lockdown will undoubtedly present challenges, but the experience of overcoming numerous difficulties during the original lockdown, for example making more use of automated valuations, will be invaluable.

“We are all seeking a return to normal, although for many it will feel like we may not see that for a while. With us returning to the higher LTV space, hopefully that is a little bit of welcome normality.”


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