The fee-based service, to last seven months, will operate across the whole of market via a team of experienced consultants in a selection of its branches.
The first branch to offer the Mortgage Matcher service is HSBC’s Cambridge city centre branch, with a view to roll it out to 19 other branches on a phased basis over the coming weeks.
The service, administered by John Charcol on HSBC’s behalf, is designed to appeal to the large number of HSBC customers who have not previously bought their mortgage from the bank. It is offered on a fee-basis, with a fee of £150 payable on drawdown.
HSBC’s head of retail products Andy Mielczarek says: “We remain totally committed to funding our own mortgage business, with £15bn available for 2009, double what we lent in 2007.
“However this service offers our customers who are less confident in deciphering the right mortgage deal for themselves, another reason to talk to us and gives us more options to help them.”
HSBC will continue to sell its own mortgages via its existing mortgage managers in all branches, with whole of market and HSBC only mortgage options open to customers in the twenty branches taking part in the trial.