Table of content
- How do I send a message online?
- How do I view my statements online?
- What is my annual overpayment allowance?
- Can I make a lump sum payment?
- How do I make a monthly overpayment?
- How do I change my Direct Debit account details?
- How do I change my repayment date?
- How are early repayment charges calculated?
- Can I apply for a consent to let?
- How do I redeem my mortgage?
- How can I accept my mortgage offer online?
- How do I change my mortgage term or repayment type?
- How do I change owner and/or borrower details?
- I am currently switching my mortgage product, can I change my mind?
- How do I repay my mortgage early?
- What is the standard monthly mortgage payment and how is it calculated?
- Can I overpay if my mortgage has Early Repayment Charges?
- Can I make overpayments and reduce the term of my mortgage?
- How often should I review my additional payment arrangement on my mortgage?
- I make regular overpayments through direct debit payment. Do I need to change anything following a change in the Bank of England base rate?
- Why is my final payment date showing as the date on the mortgage Offer Document when I've been overpaying?
- My final mortgage payment has been made but the direct debit has picked up a subsequent payment in error. When will I get a refund?
How do I send a message online?
Sending a message online is a quick and easy way to get in touch. Just follow these steps:
1. Once logged onto online banking, you’ll see an envelope icon at the top of the page.
2. Select the envelope.
3. Choose ‘Send a message’.
4. Scroll down to ‘What is your enquiry about?’
5. Pick the closest option.
6. Write a brief message.
Please allow 1 working day for a response.
How do I view my statements online?
You can see annual statements through ‘My documents’ in online banking. For transaction statements for a period of up to 6 years (if applicable):
1. Log onto online banking.
2. On the ‘My accounts’ page, select the appropriate account.
3. Choose ‘Manage’.
4. Go to ‘Statements’.
If the period you need isn’t available, you can use the 'Search' option to select the appropriate dates.
If you need a statement of debit interest issuing for tax purposes, please send a message online. Make sure your request includes the tax year you need this to cover. We can’t upload the statement online, however we’ll arrange for this to be posted to you within 5 – 7 working days. If this is something you need each year, please let us know. We can then make sure this is automatically posted out at the beginning of the UK tax year unless stated otherwise.
What is my annual overpayment allowance?
Your annual overpayment allowance will change for each year of your fixed or discount rate period. You can view details of your annual overpayment allowance and see the remaining balance via online banking:
1. Once logged onto online banking you’ll see the heading ‘My accounts'.
2. Please scroll down and select the appropriate account.
3. You’ll now see the account details in the window to the right and a link ‘Overpayment Details’ in this new window.
4. Select this link to access your annual overpayment allowance details.
Please note, payments to mortgage loans are permanent transactions which cannot be reversed at a later date. Any overpayments exceeding the remaining annual overpayment allowance will incur an early repayment charge.
Can I make a lump sum payment?
Yes, you can pay from your HSBC bank account by using online banking or our mobile banking app. You’ll need to select ‘Move Money’ and then the account you wish to transfer to and from via the drop down boxes. Please note that any credits made to your mortgage are permanent transactions and can’t be refunded.
If the funds are held with another bank, you‘ll need to transfer them from the other account either via online banking or by contacting the bank where the funds are held. Funds should be credited to your mortgage sort code and account number.
All additional payments are applied to reduce the principal balance of your loan. As we calculate interest on a daily basis, any reduction in the loan balance is reflected immediately in the interest calculation.
Payments are not automatically recalculated or letters sent when lump sum payments are made. Interest will continue to be calculated on a daily basis, based on the remaining balance and interest rate. If you need your monthly repayments to be recalculated to reflect the reduced loan balance, please send us a message online. Otherwise, your monthly payment will remain at the current amount until there’s a change to your loan eg interest rate or payment date change. If your next payment is due within 7 working days, the adjusted payment will change from the payment after.
How do I make a monthly overpayment?
If you’d like to increase the Direct Debit payment to make voluntary overpayments, please send a message confirming the amount you’d like to overpay by. Please note we need 7 working days’ notice to add or remove an overpayment. If the Direct Debit is adjusted, your standard payment will be recalculated, bringing your mortgage back to the original term.
You can also set up a monthly overpayment as a separate standing order. This could be done via online banking in the usual way, and needs to credit the sort code and account number of the mortgage. This will allow you full control in making any adjustments to the overpayment without having to provide 7 working days’ notice.
Please note, if you’re on a fixed rate you’ll need to review your allowance to make sure you don’t exceed it. Overpayments exceeding the remaining annual overpayment allowance will incur an early repayment charge.
How do I change my Direct Debit account details?
If you’re changing your Direct Debit from one HSBC account to another, you can transfer this via online banking:
1. Select the account it’s currently paid from in ‘My accounts’.
2. Choose ‘Manage’.
3. Go to 'Direct Debits‘.
4. Follow the on-screen instructions.
To change your Direct Debit to an account held with another bank, you can complete a new Direct Debit mandate.
If you prefer to complete a new Direct Debit mandate, please let us know by sending a message online and we’ll send you a form in the post. Please complete it with your new bank details, then sign and return it as soon as possible. Please note that we need to have the form back at least 10 days before the next payment is due in order to collect it from the new account.
How do I change my repayment date?
It is possible to change the date of your monthly mortgage payments as long as the correct payment is made in each calendar month. Please note only one Direct Debit claim can be made in a calendar month. If we do not have time to collect a payment within the same month, please be aware this will extend the term of your mortgage loan by one month.
Interest is charged on a daily basis and is passed to the loan a month in arrears. Where the period between your existing and your proposed monthly payment dates is greater than one month this will result in the next payment being increased to include the additional days’ interest due. Subsequent monthly payments will revert to the standard monthly payment amount.
If the period between the existing and proposed date is less than a month the standard payment will be collected. This will result in more of your payment being applied to reduce the principal balance of your loan. Please note, if you decide to go ahead with the change we’ll need at least 7 working days’ notice before your payment is due to update our records.
If you have made any lump sum payments your monthly payment would be recalculated.
How are early repayment charges calculated?
Your annual overpayment allowance will change for each year of your fixed or discount rate period. You can view details of your annual overpayment allowance and see the remaining balance via online banking.
The early repayment charge is 1% of the amount paid over this allowance for each remaining year of the fixed or discount rate period. This amount reduces on a daily basis.
Example: A lump sum payment of £10,000 with 493 days remaining on the fixed rate
£10,000 x 1% ÷ 365 x 493 = £135.07
Can I apply for a consent to let?
It’s a condition of your mortgage that you get our consent to rent your property. Consent is normally for 24 months to cover a temporary change in circumstances. We only consider requests for agreements to start immediately or within 2 weeks. You can send a secure message confirming the start date, reason for the request and how long it’s needed for.
This is a short-term agreement. It’s your responsibility to make sure you’re living in the property at the end of the agreement, or you contact us to ask for an extension. However this may not be guaranteed.
How do I redeem my mortgage?
If you’re looking to pay your mortgage off in full, you can send us a message online. Please confirm the date you want to redeem your mortgage. Once we’ve received your request, we’ll arrange to send a redemption figure to you via online banking or in the post within 3 – 5 working days. This depends on your communication preference.
How can I accept my mortgage offer online?
How do I change my mortgage term or repayment type?
If you want to change the length of your mortgage term or change your repayment type (e.g. from interest only to capital repayment), you can choose to do this from the following options:
- Log onto online banking and from your mortgage account, click 'Manage' and 'Make other changes'
- If you are not registered for online banking, you can register now
- If you don't want to register for online banking, you can still change your term or repayment type online. Click How to apply, select Online, and then Apply now
- Alternatively, call us to speak to one of our Mortgage Advisors 0800 169 6333 Textphone 1800 10800 028 1236
How do I change owner and/or borrower details?
†If you want to change the owner and/or borrower details, you can choose to do this from the following options:
- Log onto online banking and from your mortgage account, click 'Manage' and 'Make other changes'.
- If you are not registered for online banking, you can register now.
- If you don't want to register for online banking, you can still change the owner and/or borrower details online. Click How to apply, select Online, and then Apply now
- Alternatively, call us to speak to one of our Mortgage Advisors 0800 169 6333† Textphone 1800 10800 028 1236
I am currently switching my mortgage product, can I change my mind?
You are able to change your mind during the switching process up until you accept your Offer document. After this time, you will be bound by the terms and conditions of your new mortgage which may include Early Repayment Charges if you wish to transfer to an alternative mortgage rate.
How do I repay my mortgage early?
To repay your mortgage early, you'll need to ask us for a redemption figure. This shows you exactly how much you need to pay to redeem your mortgage in full.
This is different to the balance you see on online banking as there will also be interest accrued/about to be applied which won't be included. There may also be early repayment charges if you're currently on a fixed rate. To get your final redemption figure, you can:
What is the standard monthly mortgage payment and how is it calculated?
If you currently pay interest only, your standard monthly payment will be the amount you need to pay each month to cover the interest that has accrued on the capital balance of your loan. It is based on how much interest will be paid over the term divided by the number of monthly payments.
If you currently pay both capital and interest (known as capital repayment), your standard monthly payment is the amount you need to pay each month to cover both the interest that has accrued on the capital balance of your loan and part of the capital. It is calculated so as to ensure that, if you make all of the required payments in full and on time, your mortgage will be repaid by the end of the term as shown on your Offer Document.
Can I overpay if my mortgage has Early Repayment Charges?
Yes, you can subject to limitations. Please visit online banking for details of your Annual Overpayment Allowance (AOA). As long as you don't go over your AOA for the year, you won't incur an Early Repayment Charge.
You can overpay by making regular overpayments or one-off lump sum payments and these will count towards your AOA. Once you exceed your AOA for the year, any additional overpayments within this period will incur an Early Repayment Charge.
How often should I review my additional payment arrangement on my mortgage?
For fixed rates, we recommend you review your additional payment arrangements at least once a year.
Your annual overpayment allowance is calculated once a year on the anniversary of the start of your fixed rate period. This calculation is based on the remaining capital balance of your mortgage account on this day, and if this amount is not exceeded there will be no additional charges, such as early repayment charges.
You can use all or part of your allowance at any time during the 12 month period, either by making regular monthly overpayments, one-off lump sum payments, or a combination of these.
For tracker and variable rates, while there are no restrictions to the amount you can overpay each year we would always recommend reviewing your additional payments regularly throughout the life of your mortgage to ensure you are on track to repay your lending by the end of the term agreed.
I make regular overpayments through direct debit payment. Do I need to change anything following a change in the Bank of England base rate?
Fixed rates: there will be no change to your payments following a Bank of England base rate change.
Tracker rates: there will be an impact to your payments following a Bank of England base rate change. This will take effect within 1 day of this change. We'll notify you in writing the impact of this change on your mortgage. You'll also be able to find a copy of this letter in 'My docs' on Internet Banking.
Additional payments: If your additional payment is a set amount on top of your standard monthly payment, the total amount you pay will change in direct relation to the base rate change, e.g. if the Bank of England base rate increases, your monthly payment will also increase.
If you have set your additional payment to be a 'total amount' that includes your standard monthly payment e.g. £750 per month, of which £455 is your standard payment and £295 is your additional payment, we will not change your total payment until your standard monthly payment exceeds the total amount set.
If you're unsure how your additional payment is set up you can call us on 03457 662255, lines open Monday - Friday 8am - 6pm and Saturday 8am - 5.30pm. Alternatively you can send us a secure e-message via online banking.
Why is my final payment date showing as the date on the mortgage Offer Document when I've been overpaying?
The date your mortgage will end is confirmed in your most recent mortgage correspondence or mortgage Offer Document you have received.
Any additional payments made could result in you repaying your mortgage before this date. However any changes to your rate, payment amount or payment date will result in your standard monthly payment being recalculated against the term set out in your Offer Document. Additional payments may unofficially change the date your mortgage will end.
For interest-only mortgages your monthly payment will be the amount required to cover the interest that has accrued for the past month on the capital balance of your mortgage. This amount will remain constant until there is a change to your mortgage, for example, change in rate or payment date.
If you have any further questions, please call us on 03457 662255. Opening hours: Monday - Friday 8am - 6pm and Saturday 8am - 5.30pm.
My final mortgage payment has been made but the direct debit has picked up a subsequent payment in error. When will I get a refund?
This will be refunded to the originating account. The refund should be made within 7 working days.
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 to Friday 8am - 9pm, Saturday 8am - 8pm, Sunday 9am - 6pm. Calls may be monitored and recorded. Opening hours within the mortgage departments may vary.