Effective Tuesday, May 21st, 2024, HSBC UK has launched Buy to Let (BTL) mortgages for non-UK residents through its Intermediary channel. This new offering is subject to meeting HSBC UK’s minimum lending criteria and opens up investment opportunities in the UK’s rental market.
International BTL applications can be completed for all buyer types, including individuals residing in approved countries. A comprehensive list of eligible countries can be found on HSBC UK’s Broker website.
Applicants can provide income in foreign currencies, with HSBC UK accepting a range of currencies as detailed in their Foreign Currency Matrix.
Key Lending Criteria Requirements:
- Minimum income of £75,000 for a sole applicant (excluding variable and rental income)
- Minimum loan amount of £25,000 (Additional borrowing £10,000)
- Loan terms ranging from a minimum of 5 years up to a maximum of 40 years
- Interest-Only or Capital Repayment options available
- Lending based solely on rental income
- No maximum age requirement (minimum income must be evidenced throughout the loan term)
This new International BTL mortgage offering from HSBC UK presents a lucrative opportunity for non-UK residents to diversify their investment portfolios and tap into the UK’s thriving rental market.
“This is excellent news for potential international buyers looking to invest in the UK property market. HSBC’s new international BTL mortgage expands the lending pool available, giving buyers more options.
It makes the market more competitive, providing flexibility on choice and potentially lower rates all round as banks compete with each other for this growing segment.”
Luther Yeates, Head of Mortgages at UK Expat Mortgage.
