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HSBC brings back 95% mortgages

HSBC brings back 95% mortgages

Tuesday 22 June 2021

HSBC brings back 95% mortgages

Tuesday 22 June 2021

HSBC is bringing back a 95% loan-to-value residential mortgage product and will be increasing lending limits for both its 90% and 95% mortgages later this month.

The bank says that, by doing so, it is aiming to support first-time buyers in the Channel Islands and Isle of Man.

The Bank has also recently enabled customers to sign their mortgage documents digitally and upload supporting documentation online, which it said was part of its drive to make accessing mortgage products easier and more environmental and sustainably-focused,

“Recent figures continue to show a rising cost of living and highlight the very real challenges for first time buyers in the islands looking to get a foot on the property ladder," Tania Sobey, Head of Retail Distribution, HSBC, Channel Islands and Isle of Man, commented.

"By opening up the possibility of a mortgage with a 5% deposit, in tandem with our new rates and lending limits, we hope we can play a part in helping younger islanders in particular realise their dream of buying their first home.

“In addition, our enhanced mortgage proposition is focused on making the whole mortgage application process easier through our online platform.”

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