Struggling with your mortgage payments? We're here to help
There are a number of options available if you need to reduce your mortgage payments. This could involve switching your rate, or paying your mortgage off over a longer period of time. Before making any changes, you should understand if they'll affect the overall amount you owe.
If you need support with your HSBC mortgage, you can contact us for advice without taking a new affordability assessment or harming your credit score.
Explore your options
Switch your deal
You might be able to switch your mortgage deal to one with a better interest rate. This could help reduce your monthly payments.
- Secure a new rate up to 4 months before your current one ends
- If you find a better rate before before the switch, you can switch to that one instead
- No affordability check needed
| Pay the interest only |
You could reduce your outgoings in the short-term by paying just the interest on your mortgage for a period of 6 months.
After this time, you’ll go back to your original payment plan, but your monthly repayments will be higher than before to make up for the months you were only paying interest.
Extend your term
If you extend your mortgage term (for example, from 15 to 20 years), your monthly payments will go down, as you're spreading the cost over a longer period.
With this option, it's important to understand that the total amount you pay back will increase. This is because you'll be paying interest for longer.
| Cancel an overpayment |
If you're making overpayments on your mortgage, consider going back to a standard repayment schedule to make your monthly total more manageable.
If your overpayment is part of your normal monthly mortgage payment, speak to our mortgage team about adjusting your plan. If you have a separate standing order, you can cancel this in the mobile app or online banking.
Already missed a payment?
If you're behind on your repayments, or think you won't be able to make the next one, please contact us as soon as you can.
If you stop making repayments without letting us know, it will affect your credit score, which could mean:
- You get rejected for credit applications
- Your ability to get a mortgage in the future is affected
- The credit score of anyone who is financially associated with you could be impacted (for example through a joint bank account or credit account)
We'll be happy to talk through the best options for you and help make things more manageable.
Frequently asked questions
Talk to us
Make an appointment online
Come into your nearest branch to speak to one of our mortgage specialists. You’ll need to bring ID, proof of address and a recent bank statement.
Make an appointment by phone
If you can't book online, you can call us to make an in-branch appointment.
Lines are open 07:00 to 21:00 every day.