HSBC is extending its cashback offer and bringing in a big change to mortgage rates. HSBC UK is making changes to its Energy Efficient Homes Cashback mortgage (EEHC), making its cashback of up to £750 more accessible to more customers.
In March 2024 HSBC UK launched the Energy Efficient Homes Cashback mortgage (EEHC) to encourage sustainable decisions by those looking to buy a new home or remortgage their current home with us.The scheme provides cashback if a home being bought or remortgaged to us has an EPC rating of A or B, which is in addition to any other cashback available on the chosen mortgage, but was available on mortgage applications that were submitted through mortgage brokers only.
This week HSBC UK has confirmed it is extending the availability of the Energy Efficient Homes Cashback mortgage to customers applying directly to HSBC UK. Since the introduction of the EEHC thousands of homeowners have made sustainable choices and received cashback through the EEHC scheme.
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Since its launch, the amount of cashback on EEHC mortgages has increased from up to £500 to £750 or £1,250 depending on the mortgage being taken, meaning a customer taking out a mortgage with other cashback elements could now receive up to £1750 in cashback in total.
Oli O’Donoghue, HSBC UK’s Head of Mortgages, said: “The introduction of our Energy Efficient Homes Cashback mortgage has been very popular, with thousands of homeowners making sustainable choices in addition to having a home with reduced energy bills and benefiting from our cashback incentive.
“We know that some customers prefer to come to us direct and not through a broker, so I am pleased those customers will now also have this cashback mortgage available to them, giving them another reason to make a sustainable choice.”
Oli O’Donoghue, HSBC UK’s Head of Mortgages, added: “The start of a new year often brings resolutions of spending less, saving more, or moving house at the upper end of the financial decisions scale. We are firmly focused on helping customers onto or up the property ladder, whatever the time of year, and we are committed to providing some of the best mortgage options available to help our customers achieve their home ownership goals.
“While mortgage rates have been in flux during 2024, moving up and down regularly, these rate cuts so early in 2025 will be a welcome move to those with home ownership new year resolutions.”