HSBC has revised its mortgage lending policies to ensure that both foreign and UK nationals are treated equally.
This policy change allows foreign nationals to access a broader range of lending tiers through their mortgage brokers. The bank is now offering loans of up to 95% loan-to-value (LTV) for any borrower with the right to remain in the UK or those with EU settled status.
Enhanced Loan-to-Value Options
Previously, both borrowers in a mortgage application needed to have the right to remain in the UK or EU settled status to qualify for the 95% LTV option. This requirement has now been changed to apply to just one borrower. Additionally, the lender has increased LTV limits from 75% to 85% for foreign nationals without permanent residency. To qualify, these individuals must demonstrate they have lived in the UK for at least one year or provide proof of a minimum income of £75,000 annually, or a joint annual income of £100,000.
