To qualify for HSBC Premier, clients must have an annual income of at least £100,000 or hold £100,000 or more in savings or investments with the bank. Eligible borrowers will also require a minimum 10% deposit.

The policy change significantly increases borrowing power. A Premier customer earning £100,000 per year could now borrow up to £650,000, compared to the previous limit of £550,000 (a 5.5 LTI).

Oli O’Donoghue, head of mortgages at HSBC UK, said the increase reflects “confidence in the financial resilience” of its Premier customers and a commitment to responsible lending.

Analysts note the move signals HSBC’s “clear appetite to grow market share” amid a “more confident regulatory environment”, according to Simon Gammon of Knight Frank Finance.

The move by HSBC comes as other lenders adjust their offerings. Nationwide Building Society has expanded its interest-only mortgage range, notably opening it to first-time buyers via brokers.

Nationwide will also now accept a wider range of repayment vehicles beyond the sale of the main residence, including savings, investments, pension funds, and other properties.

Industry experts praised the move but stressed the importance of professional advice. Andrew Montlake of Coreco mortgage brokers noted the proposition maintains clear income thresholds (£75,000 sole, £100,000 joint) and ensures customers “will access the professional advice that is crucial”.