Connect for Intermediaries appoints HSBC to panel

Connect for Intermediaries appoints HSBC to panel

Connect for Intermediaries has appointed HSBC to its mainstream residential panel of lenders.

The high street bank approved the appointment last week and it goes live today (April 8). 

HSBC UK for Intermediaries will provide rates starting at 1.54 per cent for a two-year fixed mortgage and from 1.84 per cent for a five-year fix at 60 per cent loan to value.

Members of Connect, a specialist mortgage network, will be able to introduce clients up to 80 years of age and HSBC will accept both employed and self-employed borrowers.

The HSBC products are also extended to UK expats in 22 countries and with 165 different income currencies, and cover a wide range of property types. 

HSBC will pay Connect’s brokers a gross procuration fee of 0.40 per cent on every deal.

Last Month, Connect held its first academy for trainee mortgage brokers and has another seven planned for the year.

It became the latest of several large intermediary businesses to launch training programmes to attract fresh blood to the industry.

Liz Syms, chief executive of Connect for Intermediaries, said: "While the Connect network is well known for specialist lending and buy-to-let, it is less well known that we have an extensive and flourishing mainstream residential panel too. 

"The addition of HSBC helps to reinforce the strength and depth we have across every lending area, providing our network members with extensive access to lenders and rates across every part of the mortgage market."

David Hollingworth, of L&C Mortgages, said: "HSBC is a force to be reckoned with in the mortgage market, offering products that are generally keenly priced and designed to be ‘there or thereabouts’ when it comes to the best buys.

"It’s certainly made its presence felt since it first launched into the intermediary market and its continued commitment to the broker market is clear as its distribution has expanded."