HSBC Mortgages

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Last updated on 17 February 2022.

HSBC is one of the UK’s four largest banks and offers a range of mortgage products to customers across the UK.

Learn more about HSBC mortgages to answer any questions you might have before applying.

HSBC Mortgage Rates

Mortgage rates with HSBC vary, depending on a range of factors.

HSBC’s fixed-rate mortgage allows borrowers to fix into an interest rate that will not change for a set period of time. Typically, the minimum term for a fixed-rate mortgage from HSBC is two years, while options up to five years are common.

On the other hand, HSBC’s tracker mortgage is a variable rate mortgage that follows the Bank of England base rate. This means that your repayments can change from month to month, depending on the base rate. The minimum term for a HSBC tracker mortgage is two years.

HSBC Mortgage Products

Consumers can find a range of mortgages at HSBC, which cater to their various needs, whether that’s to borrow to get on the housing ladder, to move home, or to buy properties to make rental income, for example.

Listed below are some of the mortgage types that HSBC provide:

  • first-time buyer
  • home mover
  • buy to let
  • remortgage

Mortgage Application Process

The HSBC mortgage application process is similar to that of most lenders. Listed below is a basic step-by-step guide to the key stages of such a process:

  • Get a decision in principle. Providing HSBC with details about your situation, such as your income and deposit, will allow them to issue an Agreement in Principle if they think you will be a good borrower based on the information you provide.
  • Find a property. Once you have your decision in principle from HSBC, you can use it to help guide you to find the right property for your budget.
  • Apply for your HSBC mortgage. When you have selected your property, you can begin your HSBC mortgage application.
  • Mortgage process. From this point, you will typically work with a solicitor or licensed conveyancer to complete on your mortgage. This part of the process will include having your financial situation properly checked, as well as the completing the transaction on the home you are buying.

HSBC Mortgage Customer Service

HSBC offers dedicated customer service to those seeking mortgages, as well as to customers who already have a mortgage with them.

Existing HSBC mortgage customers can call 0800 731 3134. Non-HSBC customers can call 03455 873 444. Existing customers may call between 8am-8pm Monday to Saturday and 9am to 6pm on Sunday. Non-HSBC customers may call at the same times, every day except Christmas Day, Boxing Day and New Year’s Day.

Alternatively, you can contact HSBC customer services through the official HSBC app or through live chat rooms on the official website.

HSBC Mortgage FAQs

Who is HSBC?

Established in 1865 as the Hongkong and Shanghai Banking Corporation, HSBC has become the UK’s largest multinational bank. In 1992, the Midland Bank became part of HSBC. Today it provides a wide range of financial products and services, including mortgages.

How does an HSBC mortgage work?

HSBC mortgages may work in slightly different ways, depending on the type of mortgage you take out.

However, there are several features that all HSBC mortgages have in common:

  • You will need to provide a deposit that is typically worth at least 5% of the property value.
  • You will take a loan on the remainder of the property from HSBC.
  • You will repay the loan through monthly payments, which will have interest added.
  • The interest you pay could come in one of a few forms, including fixed rate, standard variable rate or tracker rate.

A mortgage is a serious financial commitment and is repaid over a number of years. It is crucial you find an appropriate deal you can be sure to afford in the long term.

What is HSBC’s mortgage eligibility criteria?

The eligibility criteria for an HSBC mortgage can vary between products, depending on several factors.

Below are several common criteria for a residential mortgage:

  • You must be aged 18 and over.
  • You must be a UK resident.
  • You will need to show proof of income – such as your last three months’ payslips or a P60 form.
  • The mortgage is for use as your main residence.

HSBC also requires that home buyers are not purchasing a property through a scheme such as right to buy or shared ownership.

For more details of eligibility criteria for specific mortgage products, visit the HSBC website or talk to its customer service team.

NerdWallet can help you to compare mortgages from a range of providers, including HSBC. Find out more by comparing deals using our mortgage comparison tool.

Does HSBC have a mortgage app?

Yes. HSBC offers a free-to-download banking app, which is available to smartphone users via the App Store and Google Play. It allows customers to monitor their mortgage digitally, make payments, apply for loans and contact HSBC when required.

Does HSBC offer mortgage holidays?

On 31 July 2021, in accordance with FCA guidance, all payment holidays for HSBC mortgages were ended. This support was offered because of disruption caused to customers due to the coronavirus pandemic. Customers were entitled to reduce payments to help ease financial pressure for a limited time.

While mortgage holidays are no longer an option, you may be allowed to extend the term of your mortgage over a longer period of time or switch rates to make the mortgage more affordable.

Can you overpay on an HSBC mortgage?

Yes, depending on the type of mortgage you hold with HSBC. Overpayment of mortgages can be possible, reducing the overall balance on your loan faster than otherwise. Please note that some types of HSBC mortgages might carry limits to the amount you can overpay.

Overpayment can be in a lump sum in some cases or through monthly overpayment until the balance is fully paid back. Check your mortgage offer to see what options are at your disposal.

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Fluent Mortgages Ltd is authorised and regulated by the Financial Conduct Authority (FRN 458914), and is a registered company in England and Wales (company registration number 10978680), with a registered address at 102 Rivington House, Chorley, New Road, Horwich, Bolton, BL6 5UE