Best HSBC mortgage deals
Whether you're an existing customer or a first-time buyer, compare the best mortgage interest rates from HSBC with our comparison tool below. To see what rate you could be offered, create a free Tembo plan.
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What type of mortgages does HSBC offer?
HSBC offers a wide range of mortgage products, including fixed-rate and tracker mortgages for first-time buyers, home movers, remortgagers and buy-to-let customers. They also offer some niche products including 95% mortgages for first-time buyers with smaller deposits, but not as many as other lenders.
As with any provider, whether HSBC is the best mortgage lender for you depends on your affordability and individual circumstances, what mortgage products you're eligible for, and what the market is currently like. An expert mortgage broker like Tembo can help you navigate these factors to ensure you get the best mortgage deal for you.
How much could I borrow from HSBC?
Like most mortgage lenders, HSBC offers a range of mortgage products with different eligibility criteria. How much you could borrow for a mortgage depends on which products you're eligible for, your household income and deposit, and other factors like your credit score, employment type, and outgoings. But typically you can borrow between 4-4.5 times your income, although some applicants may be able to borrow more than this.
By creating a free Tembo plan, you can see what you could be offered for a mortgage by HSBC and other providers without applying.
Can I make overpayments on a HSBC mortgage?
If you currently have an HSBC mortgage and you're on a fixed-rate product, you can only overpay by up to 10% of your outstanding loan balance each year. So for example, if you have an outstanding mortgage balance of £180,000, this would mean you can overpay by a maximum of £18,000 without being hit by an Early Repayment Charge (ERC). Anything above this 10% threshold, you will have to pay an ERC on.
But for any of their tracker rate mortgages, you can make unlimited overpayments without incurring an ERC.
HSBC is a trusted mortgage lender and one of the UK's largest providers. They routinely offer some of the cheapest deals on the market, so are worth considering. However, they may not be suitable for customers looking for niche products like green mortgages, or first-time buyers who need to boost their affordability.
Ruth Russell
Mortgage Advisor at Tembo
Are HSBC a good lender?
HSBC is one of the UK's largest mortgage lenders, holding a 7.5% market share. They also offer some of the cheapest mortgage deals on the market, including deals between 60-95% LTV for first-time buyers and up to 80% LTV for remortgagers. However, when it comes to customer reviews HSBC falls fairly middle of the road. They were given an average customer score by Which? in 2023, while on Trustpilot they are rated 1.4 out of 5 from over 8,000 reviews which is comparable to other large lenders like NatWest and Nationwide.
HSBC also doesn't provide many niche products that are ideal for customers who need a boost to their buying budget or have complex situations, such as springboard mortgages, offset mortgages or schemes like the government's First Homes initiative.
Does HSBC offer guarantor mortgages?
HSBC does not currently offer guarantor mortgages, but there are a range of lenders that do offer them.
It can be difficult to know which lenders offer guarantor mortgages and which one is right for you and your family as this depends on your individual affordability and what schemes you qualify for. Working with a mortgage broker who specialises in family-supported mortgages can help you navigate lenders' different eligibility criteria and find the best deal for you from across the market.
Looking for a new mortgage?
First home
Unsure which mortgage deal to go for? Buying your first home can be confusing and overwhelming. Get help from the experts.
Remortgage
Coming to the end of your current deal? Remortgage onto a new one with our help. We'll show you whether you should stay with the same lender, or switch.
Moving home
Upsizing to your forever home? Or maybe you're downsizing to something more manageable. Whatever your reason for moving, we can help you find the best deal for you.
Buy to Let
Thinking of becoming a landlord? We can help you discover the best buy to let mortgage deal for you and how you could boost your mortgage affordability.
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The application process
4 simple steps to buying your first home or remortgaging
Make a Tembo plan
Check your eligibility for a range of mortgages and buying schemes, and get a personalised recommendation with interest rates and repayments in under 10-minutes.
Talk to an expert
Book a call with our experts to complete the qualification process, and we’ll cover off any questions you might have about any of the mortgage deals and budget-boosting schemes we advise on.
Apply for your new deal
Next, your dedicated advisor will undertake full affordability checks to prepare the mortgage application. Then we’ll submit it on your behalf!
Make home happen
Your Tembo advisor will be on hand to ensure everything runs smoothly, so you can move onto your new deal as quickly as possible.
