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Switch mortgage

I want to switch my mortgage rate

If your current fixed rate mortgage is coming to an end, or you're on the HSBC standard variable rate or HSBC Buy to Let standard variable rate, we can help you switch to a new HSBC mortgage rate.

In 2019, HSBC won the Moneywise mortgage award for Best Lender for Fixed rate mortgages for the third time, Moneyfacts award for Best Bank Mortgage provider for the second time, Moneyfacts award for best Fixed Rate Mortgage provider and the YourMoney.com Award for Best Online Mortgage Provider

Why should you consider switching your rate?

  • You could save money by switching to another rate rather than our standard variable rate
  • You can agree your mortgage rate up to 12 weeks before your current rate ends
  • We won't need to check your credit rating as you're an existing mortgage customer
  • No valuations are required
  • No legal work is required
  • You can switch your rate at any time, even if you have less disposable income at the end of each week or month

What happens if I don't switch my mortgage rate?

If you're on an HSBC fixed rate which is ending soon, you'll be moved onto the HSBC standard variable rate for residential mortgages or HSBC Buy to Let standard variable rate for Buy to Let mortgages. Details of this can be found on your Mortgage offer document.

Please note:

• your mortgage payments will be variable so these could go up or down

• you'll be able to make unlimited overpayments

• you could pay off your mortgage early without any early repayment charges

What will happen if I’m in negative equity and want to switch my rates, borrow more money or move home?

You’ll only know you’re in negative equity if:

you’ve had your home valued recently

your outstanding mortgage balance is higher than the value of your home

We’re here to help. If you’re in negative equity and want to change your mortgage or move home, please give us a ring on 0800 169 6333. Our lines are open Monday – Saturday 08:00 – 20:00, Sunday 09:00 – 18:00. We may monitor and record calls. Opening hours may vary. You can also visit your nearest HSBC UK branch.

Switching to a new HSBC mortgage rate is easy

Once you've decided you want to switch, it's easy to find a new rate.

Step 1 - Find and compare our current mortgage rates or view all our mortgage rates.
Step 2 - When you're ready, apply to switch to a new rate.  

Contact us

How to apply for a rate switch

Online

Consider this option if:

  • you don’t need advice in relation to the mortgage rate you wish to apply for and are comfortable choosing a new mortgage deal
  • you would like to switch your rate and not make any other changes
  • you would like to switch your rate and make other changes at the same time (e.g. changing your term, requesting additional borrowing, changing your repayment type)
  • you have more than one applicant on your mortgage, both applicants will need to be registered for online banking

This option is not suitable if:

  • your current Loan to Value (LTV) exceeds 90% - the LTV is your mortgage balance as a proportion of the value of your home
  • your mortgage is made up of more than one loan, and, you are looking to rate switch to the same new rate on more than one of your loans and, the new rate has a booking fee
  • you have more than one applicant on your mortgage and the other applicant is not registered for online banking

To switch your rate online, you need to be registered for online banking. If you are not registered for online banking, you can register now.

If you’re making no other changes, you can log on here and easily switch your rate only.

If you’re looking to make other changes to your mortgage, such as extending your term or borrowing more, find out more here.

Speak to us

Consider this option if:

  • you need advice from one of our mortgage advisors in relation to the mortgage you wish to apply for
  • you don't need advice but would like us to complete your application for you
  • your current Loan to Value (LTV) exceeds 90% - the LTV is your mortgage balance as a proportion of the value of your home
  • your mortgage is made up of more than one loan, and, you are looking to rate switch to the same new rate on more than one of your loans and, the new rate has a booking fee
  • you would like to switch your rate and not make any other changes
  • you would like to switch your rate and make other changes at the same time (e.g. changing your term, requesting additional borrowing, changing your repayment type)
  • you have more than one applicant on your mortgage and both of you are not registered for online banking

Arrange an appointment with a mortgage advisor over the phone or in branch

Speak to us on 0800 1696333
Textphone 1800 10800 028 1236

Frequently Asked Questions

Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.

Lines open Monday – Saturday 08:00 – 20:00, Sunday 09:00 – 18:00. Calls may be monitored and recorded. Opening hours within the mortgage departments may vary.

It’s easy to get in touch online. Talk to us directly through our chat channels.