HSBC issues major boost for millions of customers as it 'relaxes' rules HSBC says the change could mean 20,000 more customers are able to get a mortgage, alongside being able to borrow larger amounts. HSBC issues major boost for millions of customers as it 'relaxes' rules HSBC UK is making changes to the stress rates used in its mortgage affordability calculations. HSBC says the change could mean 20,000 more customers are able to get a mortgage, alongside being able to borrow larger amounts. And the average increase in offer for first-time buyers will be £39,000. The changes come into effect immediately, with mortgages received from 22 April being subject to the new stress rate calculations. ‌ The changes will benefit both purchase and remortgage applications across the product range. Where offers increase for first-time buyers, HSBC says the average increase in offer will be £39,000. Article continues below READ MORE UK set for NEW hottest day of year with exact date next week announced Oli O’Donoghue, HSBC UK’s head of mortgages, said: "We understand the challenges faced by people looking to secure a mortgage. This adjustment to our stress rates, which will directly improve affordability for many aspiring homeowners, reflects our commitment to making homeownership more accessible. ‌ "By carefully reviewing our affordability calculations, allowing more customers to meet affordability criteria and potentially access increased borrowing amounts, we are aiming to ease some of the pressure on prospective buyers so more people can realise their dream of owning their own home.” Last week, Lloyds Bank relaxed its mortgage rules, meaning the typical household could potentially borrow £38,000 more. The changes could boost borrowers' budgets when taking a mortgage with any of the banks in the group: Lloyds, Halifax, Bank of Scotland and BM Solutions. Article continues below Lloyds group borrowers taking a five-year fix to purchase a home will be tested at lower rate than before. Those taking a two-year fix will continue to be tested against 5.5 per cent, or their starting mortgage rate plus 2 per cent. For those doing a like-for-like remortgage, the stress test on a two-year fix will be 5 per cent, reduced from 5.5 per cent, or their starting rate plus 0.5 per cent.