HSBC is set to launch a new mortgage range designed to encourage borrowers to choose energy efficient homes, while also cutting back on its cashback incentives.
From Tuesday 19 August, the bank will introduce its Energy Efficient Homes (EEH) range for UK buy-to-let purchase and remortgage customers. The range includes a cashback incentive for those purchasing or remortgaging a property with an Energy Performance Certificate (EPC) rating of A or B.
At the same time, HSBC is reducing cashback amounts across its First Time Buyer, Homemover and Remortgage Residential EEH ranges.
The lender is also altering the maturity dates on its fixed-rate products. Two-year fixes will now run to 30 November 2027, three-year fixes to 30 November 2028, five-year fixes to 30 November 2030, and 10-year fixes to 30 November 2035.
HSBC confirmed that its Premier mortgage rates remain available only to existing HSBC Premier current account holders. Customers who do not hold an account at the point of application will need to select from the standard range.
Applications using existing product codes must be submitted in full by midnight on Monday 18 August, with all supporting documentation required within 30 days. HSBC’s product finder tool and sourcing systems will be updated on 19 August to reflect the changes.
The bank added that no other interest rate changes are being made at this time.
