HSBC launches new mortgage cashback offer for high-EPC homes

HSBC UK is introducing a new cashback mortgage that rewards borrowers for choosing to purchase a more energy efficient home.

The cashback offer will also be available to those looking to remortgage to HSBC UK.

The new mortgage, the Energy Efficient Homes Cashback, provides £500 cashback for purchasing or remortgaging to HSBC UK with a home that has an EPC rating of A or B, where a residential mortgage is being taken through a broker.

The £500 cashback is in addition to any other cashback the customer’s chosen product has, which could lead to a total cashback of up to £1,500 for first-time buyers purchasing a home with an EPC A or B rating.

Oli O’Donoghue, HSBC UK’s head of mortgages, said: “An EPC provides important information to consider when buying a home, making it easy to see at a glance which homes are the most energy efficient, and what work needs to be done to improve the home’s energy efficiency.

“There are tangible financial benefits to choosing an energy-efficient home, including significantly reduced energy bills over the short, medium and longer term versus homes at the lower end of the EPC scale. At a time when the cost of living continues to escalate, buying a more energy-efficient home can potentially help save money and build or reinforce the financial resilience of the homeowner.

“With environmental consciousness on the rise, our new Energy Efficient Home Cashback mortgage will promote more sustainable choices around home ownership and reward customers who wish to purchase an energy efficient home or have one and choose to stay in it and remortgage to HSBC UK at the end of their current fixed rate deal ending.”