HSBC UK is expanding its first-time buyer cashback incentive and increasing the amount available from £700 to £2,000.
Cashback has also been introduced across the first-time buyer range on 60-75% LTV products and has been increased at 80-95% LTV.
First-time buyers purchasing a property with an EPC of A-B can now receive a total cashback between £1,000 and £2,000, while the standard cashback will now range from £500-£1,500.
The bank is also decreasing rates across more than 100 mortgage products by up to 0.12 percentage points across its remortgage and switcher options.
In HSBC's remortgage range, a two-year fix at 60% LTV has reduced to 3.71% with a £999 fee, with the fee-free version down by 12bps to 3.99%. A five-year fix at 60% LTV is now available at 3.80% with a £999 fee.
The lowest rate in HSBC's range is now a two-year fixed rate Premier product at 60% LTV, down to 3.68% with a £999 fee.
Oli O’Donoghue, head of mortgages at HSBC UK, said: “We are absolutely focused on supporting customers manage the cost of buying a home in the best way we can, while remaining committed to responsible, sustainable lending. As part of this, we are continuously reviewing our mortgage product range to ensure it offers strong value for customers.
“This year so far, we have already helped 28,000 first-time buyers realise their homebuying dreams and have delivered improvements to affordability and loan to income to support this. Expanding our first-time buyer cashback incentive and increasing the amount we offer goes even further to help more customers make that first step on the property ladder.”
