HSBC Boosts Borrowing for Premier Customers - But Can You Really Afford It?
So you’ve probably already seen in the news this week that HSBC UK has updated its mortgage policy for Premier customers, now allowing them to borrow up to 6.5 times their income. That’s a huge jump from the previous 5 - 5.5x limit. In practical terms, someone earning £75,000 a year could now borrow around £488,000, while a £100,000 earner could reach £650,000. To qualify, you’ll need a Premier account (or £100,000+ in savings or investments with HSBC) and a minimum 10% deposit.
The bank says this reflects both confidence in its Premier customer base and a commitment to responsible lending. Other lenders, like Nationwide, are also offering more flexibility, including interest-only mortgages and expanded repayment options.
Sounds great on paper. And yes, for high earners this opens the door to bigger mortgages. But here’s the honest bit: just because you can borrow that much, doesn’t mean you should.
We’ve seen it before. Five years ago, people stretched to the maximum when interest rates were low. Fast forward to today, rates have jumped to 4 - 5%, and suddenly monthly repayments that once felt manageable have become a real strain. It’s a reminder that your mortgage should fit your life, not just the headline numbers.
‘…just because you can borrow that much, doesn’t mean you should.’
At NG Mortgages, we don’t just look at what a bank might lend you. We focus on what you can comfortably afford to repay, both now and if rates increase in the future. It might not be flashy, but it’s the advice that protects your home, your finances, and your peace of mind.
If you’re a Wirral homeowner, first-time buyer, or looking to remortgage, HSBC’s new Premier limits could give you more flexibility - but only if you approach it carefully. Don’t let a big borrowing figure tempt you into monthly payments you can’t sustain. Prioritise your budget, your lifestyle, and future interest rate shifts.
In short: yes, bigger limits can help you buy a slightly more expensive property or stretch your budget. But affordability first, borrowing power second. That’s how you make your mortgage work for you - not the other way around.
Mortgages. Simplified.