The Times - HSBC offers 6.5 times salary mortgages as lending rules loosen
HSBC will lend homebuyers up to 6.5 times their salary as banks continue to loosen mortgage lending rules.
Larger loans were made available on Monday to customers with an HSBC Premier account — which requires annual income of £100,000 or £100,000 in savings or investments with the bank — and at least a 10 per cent deposit.
Aaron Strutt from the mortgage broker Trinity Financial said HSBC had gone “from being one of the more conservative lenders” to being “more generous than virtually any other bank or building society. We know the lenders are keen for business but this income stretch mortgage is punchy to say the least and borrowers will really need to think carefully before they take on such a large amount.”
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