HSBC for Intermediaries has started accepting applications for unencumbered property remortgages through selected mortgage brokers.
Unencumbered remortgages enable borrowers to release equity from their existing un-mortgaged property to release capital for property purchases, home improvements, to repay debts or fund other lifestyle reasons.
Aaron Strutt, product director at Trinity Financial, says: ”Many of the owners of unencumbered properties are keen to refinance to take out cash to purchase another home outright or fund an investment property. They also take out money to buy holiday homes and gift money to their children to help them get on the property ladder.
"These applications will be treated much the same as remortgage applications, so through HSBC, the bank will pay for the often computer-generated property valuation and the fees assisted conveyancing.
HSBC unencumbered remortgage eligibility and exclusions
Unencumbered remortgage applications can be for sole or joint applicants to match the current property ownership. Through HSBC there is a minimum mortgage borrowing of £10,000 and a maximum loan of £2 million. The maximum term is 30 years for capital repayment or 25 years for interest only.
Call Trinity Financial on 020 7016 0790 to secure an unencumbered property remortgage or book a consultation
Source: HSBC email update