HSBC mortgage review

Is HSBC a good mortgage provider?

We found that HSBC performed better than any other lender when it came to cheap mortgage deals. 

However, it only received an average rating for customer service. Its score of 65% placed it in 12th position out of 22 lenders in our customer satisfaction survey.

HSBC Mortgages review

	Score	Overall ranking
Which? Customer Score	65%	Joint 12th out of 22 mortgage lenders

Our Scores

Which? Customer Score

Which?'s rating for customer satisfaction, based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.

HSBC customer satisfaction scores

The table below shows how HSBC performed in our latest mortgage satisfaction survey, which gathered feedback from homeowners with existing HSBC mortgages about everything from the application process to value for money.

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What types of mortgages does HSBC offer?

HSBC is one of the UK's biggest mortgage lenders. Its parent group also owns First Direct and M&S Bank.

In 2022, the lender had a 7.5% share of the mortgage market, according to UK Finance data.

When we checked in September 2023, HSBC offered 165 mortgages. Most were fixed-rate deals, meaning your interest rate stays the same for a set initial period.

HSBC mortgages had initial periods of two, three, five and 10 years.

It also offered a small number of tracker deals, with initial terms lasting two years before reverting to HSBC's standard variable rate.

Does HSBC offer the best mortgage deals?

Which? analysed thousands of mortgages over a four-week period in August 2023. 

We compiled a series of top 10 cheapest deals tables based on a variety of borrowing scenarios, and counted how many times each lender featured in a table.

The average was five table appearances per week. However, HSBC featured 12 times, the highest of any lender. This means it routinely offered some of the cheapest mortgage deals. (Data source: Moneyfacts.)

How much could I borrow from HSBC?

HSBC will lend to first-time buyers and home movers at 60%, 70%, 75% , 80%, 85%, 90% and 95% loan to value (LTV). People remortgaging can borrow up to 90% LTV.

You can borrow anywhere from 4.49 to 5.5 times your annual household income, depending on the deal and your financial situation.

How long can the mortgage term be?

Most of HSBC's mortgages allow customers to pay back the loan over 40 years, but some products have a lower maximum term of 25 years. 

Can I make overpayments?

You can overpay up to 20% of a HSBC mortgage balance every 12 months, before incurring an early repayment charge (ERC). Most lenders have a cap of 10%.

How can I contact HSBC?

HSBC's mortgage deals are available directly from the lender and through mortgage brokers.

You can contact HSBC on 0800 169 6333, via online chat or by visiting in-branch. The website is hsbc.co.uk.