HSBC UK has announced the expansion of its cashback proposition, now including customers looking to remortgage with the bank, effective from 18th April.
A £300 cashback is available for those opting for a 2-year or 5-year fixed-rate deal from 60% to 90% LTV, regardless of whether they apply through a broker or directly to the bank.
Remortgage customers will now have the option to benefit from free legal services or receive £300 cashback if they choose to use their own conveyancers.
HSBC UK is also offering CPD-accredited Masterclasses for brokers interested in learning more about the bank’s remortgage proposition.
In addition to expanding cashback options, HSBC UK is reducing mortgage rates by up to 0.25% across its range of LTVs.
This includes all 2-year and 5-year fixed rates for first-time buyers and home purchases, as well as a selection of 3-year fixed-rate deals.
Andrew Matson, HSBC UK’s interim Head of Buying A Home, said: “We know that some customers prefer to select their own solicitor to carry out the legal work for their mortgage and value having that choice.
“We are extending the availability of our Cashback offer to include those who are remortgaging. From today, those who are remortgaging will be able to choose a product with free legals included, or £300 cashback if they want to choose their own conveyancer.”
Matson added: “Additional good news is that we are continuing to bring down the cost of borrowing by up to 0.25% for those looking to get onto or move up the property ladder, which will be welcome at this time when there is an increased cost-of-living.”
Mortgage rates reductions include a 0.20% decrease for home movers with a 3-year fixed rate at 60% to 75% LTV, a 0.25% cut for existing customers with an 80% LTV 3-year fixed rate, and a 0.09% decrease for remortgagers with a 5-year fixed rate at 60% LTV.
