HSBC UK has introduced technology that will make UK mortgages more accessible for international homebuyers.
The technology will allow international mortgage applicants to retrieve their credit history for a UK mortgage application.
The updated process is available to non-resident customers from Australia, Switzerland, the Philippines and the US and those who have recently relocated to the UK within the last 12 months from one of 14 eligible regions.
This will initially be available on mortgage applications made directly to the bank.
Previously, international customers were required to obtain and translate their own credit reports prior to application.
The new offering has been made in partnership with cross-border credit bureau Nova Credit.
HSBC head of mortgage Oli O’Donoghue says: “International customers often face difficulties in accessing credit facilities from overseas or when moving to a new country.”
“We’re proud to be the first major bank to provide this innovative service to make it easier for customers to utlilise their international credit history to help them secure a property in the UK, something that could be vital part of a relocation. It is important that we cater to all our customers, including the needs of our global customers.”
“Following a launch last year, HSBC UK has seen a great response from customers using this service to access our credit cards. I am, therefore, pleased that we are able to build on this by introducing this new service into our UK mortgages application process.”