If you have an existing HSBC mortgage, you can manage your mortgage with us and do any of the following in branch:
- Switch your mortgage deal
- Make additional payments and overpayments
- Borrow more
Switch your mortgage deal
If your current mortgage deal with HSBC is coming to an end and you would like to switch your mortgage, we can help you look at your options. You can also agree your new mortgage deal up to 12 weeks before your current deal ends. To book an appointment with one of our Mortgage arrangers, please call 03456 00 61 61.
Make additional payments and overpayments
We want to help you manage your mortgage more effectively. By making regular extra payments on top of your standard monthly payment or making extra lump sum payments, you could:
- pay off your mortgage earlier
- reduce the amount of interest payable - the interest chargeable on the outstanding mortgage balance is calculated every day rather than every week, month or year
Log on to online banking to transfer a lump sum to your mortgage account or book an appointment with one of our dedicated Mortgage Specialists on 03456 00 61 61. If you do not hold a HSBC current or savings account, please contact your own bank to transfer a lump sum to your mortgage.
Speak to us about how much you can overpay without a penalty
If you'd like to make regular overpayments by increasing the Direct Debit for your monthly mortgage payment, or if you'd rather reduce your monthly mortgage payment instead of looking to pay your mortgage off earlier, book an appointment with one of our dedicated Mortgage Specialists on 03456 00 61 61.
Opening hours: Monday - Friday 8:00 - 18:00 and Saturday 9:00 - 17:00. Calls may be monitored and recorded.
Borrow a minimum of £10,000 and take advantage of our great rates.
Please note, our HomeOwner Loans are available to both existing customers and those new customers to HSBC.
If any part of your HomeOwner Loan is to be used to refinance existing debt please read our Debt Consolidation Fact Sheet (PDF).
Important changes to your mortgage overpayment allowance
- If your mortgage Offer Document was issued on or after the 27th September 2015 please refer to your Offer Document to see details of your annual overpayment allowanc
Payments and Overpayments FAQs
What is the standard monthly payment and how is it calculated?
If you currently pay interest only, your standard monthly payment will be the amount you need to pay each month to cover the interest that has accrued on the capital balance of your loan. It is calculated using the capital balance at the end of each day.
If you currently pay both capital and interest (known as capital repayment), your standard monthly payment is the amount you need to pay each month to cover both the interest that has accrued on the capital balance of your loan and part of the capital. It is calculated so as to ensure that, if you make all of the required payments in full and on time, your loan will be repaid by the end of the term as shown on your Offer Document.
How can I arrange to make overpayments every month?
We can arrange for your monthly payments to be increased by setting up an overpayment (called a Flexible Payment Arrangement) so we collect a higher amount by Direct Debit every month.
We need 10 working days notice to set up your Flexible Payment Arrangement. If it's less than 10 working days until your next payment, we'll set it up from the following one.
Can I overpay if my loan has Early Repayment Charges?
Yes you can subject to limitations. Please call us on 03456 00 61 61 for details of your Annual Overpayment Allowance (AOA). As long as you don't go over your AOA for the year, you won't incur an Early Repayment Charge.
Can I make overpayments to reduce the term of my mortgage?
In order to reduce the term of your mortgage, you first need to ask us. This is for your protection as it enables us to confirm that you can afford to pay a higher amount for the remainder of the shorter term. Please call us on 03456 00 61 61.
How often should I review my Flexible Payment Arrangement(s)?
If you make overpayments to a loan with an Annual Overpayment Allowance (AOA), then you should review the amount you are paying at least once a year.
On the anniversary of when your interest rate was applied, your new AOA will be calculated. It is important to review both the AOA and your overpayments to ensure you don't incur any Early Repayment Charges. You can check your AOA by calling us on 03456 00 61 61.
Loans on a fixed interest rate have an AOA which is reset on the anniversary of the date the loan was drawn down. You can make unlimited overpayments to a loan on any other type of rate without incurring an ERC. Please ask us if you are unsure.
Why is my final payment date showing as the date on my Offer Document when I've been overpaying?
When we recalculate your standard monthly payment for a loan on a capital repayment basis, it must always be based on the term set out in your Offer Document, so you always know the minimum standard payment you need to pay each month to ensure your loan is repaid by the agreed date.
If you currently pay interest only, your standard monthly payment will be the amount you need to pay each month to cover the interest that has accrued on the capital balance of your loan.
If you're making regular overpayments, you can always drop back to the standard monthly payment again if your circumstances change or if you have other priorities for your money.
If you wish to continue paying a higher amount so that your loan may be repaid sooner, you can do so by setting up a Flexible Payment Arrangement, or by increasing the amount of an existing one.
I make regular overpayments through a Flexible Payment Arrangement with my monthly Direct Debit payment. Do I need to change anything following a change in the Bank of England base rate?
We won't change your Flexible Payment unless the new standard monthly payment required to repay the loan by the end of the term becomes higher than the amount you have asked us to collect each month.
For example, if you've arranged to always pay £500 per month and your standard monthly payment rises from £450 to £475 per month, we'll continue to collect £500. However, if the standard monthly payment rises to £550, we'll automatically collect £550 to keep the repayment of your loan on track.
If you want to change or cancel a Flexible Payment Arrangement please contact us online via 'My Messages' or call Mortgage Servicing on 03456 00 61 61.
Opening hours: Monday - Friday 8:00 - 18:00 and Saturday 8:00 - 17:30.
Why have my payments reduced following a Bank of England base rate increase?
This can occur if you've been making regular overpayments or have made lump sum reductions to your loan without asking us to recalculate your standard monthly payments.
Whenever the interest rate is changed, the standard monthly payments are automatically recalculated to the minimum amount required to repay the loan balance, at the revised interest rate, over the remainder of the original term.
As any previous overpayments will have reduced your loan balance, we don't need you to pay as much in future to repay the loan by the end of the agreed term.
Think carefully before securing other debts against your property.
Your property may be repossessed if you do not keep up repayments on your mortgage.