HSBC has lifted its maximum loan to value on part and part lending, allowing customers to borrow more on a capital repayment basis.
The high street bank says the increase to 85% from 75% “aims to help increase flexibility and provide customers with additional choices around how they manage their repayment options”.
Customers will be able to submit a part interest-only application with additional capital repayment, up to the maximum part and part loan-to-value limit of 85% through their mortgage broker.
It adds that, for example, a loan up to and including £750,000 customers can now have 75% on interest only and 10% on capital repayment, allowing them to have an 85% LTV on a part and part basis.
HSBC interim director of mortgage lending Andrew Matson says: “We know that flexibility is key for our customers who take out a mortgage with us, and we are happy to be able to enhance our part and part mortgage lending, allowing customers more flexibility on how they repay their mortgage.
