"We are lowering all rates in our buy-to-let range in addition to removing our £349 product fee"
At 60% LTV, products reduced by 15bps include a two-year fixed rate which is now available at 1.39% with a £1,999 fee and a five-year fix at 2.09% with no fee.
At 75% LTV, a two-year fixed rate with a £1,999 fee has been cut by 0.15% to 1.64% and a fee-free five-year fix has fallen by 0.10% to 2.29%.
Additionally, HSBC is removing the £349 product fee from its buy-to-let range, including on tracker products, to provide consistency with its standard mortgage range where there is a fee-paying option and a ‘Feesaver’ option.
Michelle Andrews, HSBC UK’s Head of Buying a Home, said: “With a significant increased demand for rented properties, the buy-to-let market has seen a sharp bounce back in recent months. With many people having changed their priorities during the Covid crisis and looking to move out of cities into new areas, renting is a great ‘try before you buy’ option, which is feeding buy-to-let demand.
“We are lowering all rates in our buy-to-let range in addition to removing our £349 product fee, which will make mortgaging or remortgaging with HSBC UK significantly cheaper for amateur landlords.”