HSBC UK has announced a series of enhancements to its Product Switch application process in response to broker feedback, introducing a more efficient and user-led system via its Broker Platform.

Brokers can now cancel a Product Switch application directly within the platform using a newly introduced ‘Cancel’ button, removing the need to contact the lender’s Broker Helpdesk.

This update is intended to streamline the application journey and give brokers greater control over rate selection when resubmitting a case.

However, HSBC noted that where a booking fee has already been paid, brokers must still use the ‘Chat with us’ function to arrange changes.

A step-by-step guide to the new cancellation process is available via the broker portal.

In a reminder to intermediaries, the bank also reiterated eligibility requirements for its Premier mortgage range. These preferential rates are only available to existing HSBC Premier current account holders.

Brokers are advised to confirm a customer’s Premier status before submitting an application, as standard rates will apply if the account is not open at the point of submission.

Once a Premier account is opened, brokers can request a rate change through an Application Amendment Form or by using the ‘Chat with us’ tool.

HSBC also reminded brokers that service levels are now updated daily on its broker website.

Before reaching out to the Broker Support Team, brokers are encouraged to check the case tracking facility and messages section on the portal for the latest updates.