HSBC UK has introduced technology that makes UK mortgages more accessible to international homebuyers.
The technology allows international mortgage applicants to query 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 to customers who have recently moved to the UK from one of the fourteen eligible regions within the last twelve months.
This will initially be available for mortgage applications submitted directly to the bank.
Previously, international customers had to request and translate their own credit reports before applying.
The new offer was created in collaboration with the cross-border credit agency Nova Credit.
Oli O’Donoghue, head of mortgage at HSBC, said: “International customers often experience difficulties accessing credit facilities from abroad or moving to a new country.”
“We are proud to be the first major bank to offer this innovative service to make it easier for customers to use their international credit history to help them secure a property in Britain, something that can be crucial when moving. It is important that we meet all our customers, including the needs of our global customers.”
“After launching last year, HSBC UK has seen a great response from customers using this service to access our credit cards. I am pleased that we can build on this by introducing this new service to our UK mortgage application process.”