The cashback deals are available on two and five-year fixed standard and fee-saver offerings alongside its residential remortgage deals, which includes fee-assisted legals.
The lender said that this would give remortgage customers “greater choice” as they could select cashback incentive, where they could choose and pay for their own solicitor or free standard legal fees, which uses a HSBC-managed panel solicitor.
The cashback is £300 and two-year fixed standard deal at 60 per cent loan to value (LTV) is 4.28 per cent, and its five-year fixed standard deal at the same LTV tier is 3.84 per cent.
HSBC has cut UK residential existing customer switching range, existing customer borrowing more, first-time buyer, residential home mover and residential remortgage and international resident ranges have been cut.
This includes two, three and five-year fixed fee-saver and standard deals, as well as five-year premier exclusive deals.
Residential existing customer switching deals start from 4.09 per cent for a two-year fixed rate at 60 per cent LTV with a £999 fee. This is the same for a residential existing customer borrowing products.
First-time buyer rates, along with residential home mover deals, are priced from 4.28 per cent for a two-year fixed rate at 60 per cent LTV with £999 fee. Residential remortgage sales also start from 4.28 per cent.
Its two-year fixed rate standard deal at 60 per cent LTV with £999 fee is priced at 4.68 per cent in its international remortgage residential deals.
‘Bringing down the cost of borrowing’
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.
“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.”
