HSBC increases first-time buyer mortgage income multiple to 5.5 times salary
Effective from Monday, 1st September, HSBC introduced changes designed to make home ownership more accessible—particularly for first-time buyers (FTBs)—and to provide greater flexibility for non-FTB customers.
HSBC for Intermediaries is the latest lender to start offering 5.5 times salary mortgages to first-time buyers, providing single applicants earn £35,000 or joint borrowers have a combined income of at least £55,000.
Aaron Strutt, product director at Trinity Financial, says: "So many of HSBC’s rival lenders are offering higher income multiples that the bank probably decided it needed to make the change to keep up with the competition, as well as to help more first-time buyers borrow the money they need to get on the property ladder."
Improved Mortgage Income Multiples for HSBC's Non-First-Time Buyers
HSBC has also implemented positive changes for non-first-time homebuyer mortgage customers.
For applicants with an income between £45,000 and £100,000 (exclusive), HSBC has increased the maximum loan-to-income from 4.75x to 5.00x income, where the applicant has a deposit of at least 15% of the property value.
Summary of HSBC's Mortgage Affordability Changes
Here’s an overview of the updated HSBC lending multiples:
| Applicant | Deposit size | Income | Maximum income multiples |
| First-time buyer | At least a 10% deposit | Sole applicants £35,000 or above and Joint applicants £55,000 and above |
5.5 x salary |
| All other applicants, including FTBs who don’t meet the income multiple above | 15% deposit or less | Less than £45,000 | 4.49 x salary |
| £45,000 up to £100,000 | 5 x salary | ||
| £100,000+ | 5.5 x salary | ||
| All other applicants, including FTBs who don’t meet the £35,000 or £55,000 minimum income | Deposit between 15% and 10% | Less than £75,000 | 4.49 x salary |
| £75,000 up to £100,000 | 5 x salary | ||
| £100,000+ | 5.5 x salary | ||
| All applications | Deposit between 10% and 5% | All incomes | 4.49 x salary |
At Trinity Financial, we’re committed to helping more people achieve their home ownership goals. These updates are part of our ongoing effort to provide flexible, customer-focused lending solutions.
If you’d like to discuss how these changes could benefit you, our team is here to help.
Call Trinity Financial on 020 7016 0790 to secure a first-time buyer mortgage or book a consultation
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