Current customers can transfer their mortgage to any of the bank’s latest deals in 15 minutes.
The service is completely automated and paperless. It offers HSBC’s existing internet banking registered mortgage customers the ability to fully switch their mortgage online, including paying any product fee.
Once the process is completed, documentation including the Offer Document and Mortgage Loan Terms and Conditions are easily accessible via the HSBC website.
The facility is a finalist for an Institute of Financial Services Innovation Award due to be announced in December.
Martijn van der Heijden, head of lending at HSBC, said: “Our customers want to make more financial decisions online, and we feel there is no reason that mortgages should be an exception.
“The new online capability makes it even easier for a customer to apply for an HSBC mortgage.
“The Mortgage Product Switcher service is ideal for the majority of borrowers who at the end of their current deal just want a new great rate, not more borrowing or a different term.
“It’s simple and provides our current mortgage customers with a paperless way of effectively remortgaging in just minutes.”
