Flexibility for those on active service
We recognise the unique nature of life in the armed forces. That's why we provide extra flexibility to personnel on active service, in addition to all our mortgage benefits that come as standard.
Whether you're looking to get on the property ladder for the first time, thinking about changing your mortgage provider or just want to explore your options as an existing HSBC mortgage customer, you can count on our support. Read on for all the ways we make mortgages easier for serving personnel.
Mortgages that work for, not against you
We don't see why a job in the armed forces should make it more challenging to buy a home. So, with an HSBC mortgage, you can:
- Apply on residential terms, even if you're going to be relocated in the UK or overseas
- Apply for extra borrowing on your property if your circumstances change, even if you are relocated in the UK or overseas (subject to our usual residential criteria)
- Apply for borrowing up to the date you intend to stop working instead of your mandatory retirement date from the armed forces.
Moving your mortgage or being deployed?
As an existing mortgage customer with HSBC, you can also take advantage of the favourable terms we offer armed forces personnel. So, if you need to move away for a deployment either in the UK or overseas, you can:
- Apply for 'consent to let' that will allow you to rent out your main home to paying tenants on your existing residential mortgage, without having to transfer to a buy to let mortgage
- Discuss a suitable consent to let period with us, based on the time you expect to be away - just let us know if your situation changes and we'll be happy to review this period for you
If you would like to discuss whether obtaining consent to let would be right for you, please contact us by:
And to simplify making mortgage applications while serving overseas, we accept your British Forces Post Office (BFPO) address and do not require permanent UK resident status.
Getting on the property ladder
It's worth bearing in mind that you could be eligible for the Forces Help to Buy scheme, which helps servicemen and women buy their own property. It lets you borrow up to 50% of your salary interest-free - to a maximum of £25,000 - to put towards buying your first home or moving to a new one. If you would like to apply for a HSBC mortgage using the Forces help to buy scheme, please call us to progress this type of application.
- Funds are limited, but the scheme has now been extended to 2018
- For full details, see the Government guidance website
Ready to get started with a mortgage application?
How to apply
Applying for a mortgage involves two stages, firstly getting a Decision in Principle; secondly making a mortgage application.
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Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.