HSBC launches 20-minute mortgage decision system

HSBC has launched two new online mortgage services, one of which allows customers to receive a mortgage decision within 20 minutes.

Mortgage Product Switcher also allows current mortgage customers to transfer their mortgage to any of the bank’s latest deals in 15 minutes.

Martijn van der Heijden, head of lending at HSBC, says: “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.”