HSBC raises income and savings requirements for Premier account mortgage deals

HSBC has updated the eligibility criteria for its Premier current account, making it harder for customers to qualify for cheaper mortgage rates. The income requirement has increased from £75,000 to £100,000, and savings must now be £100,000 instead of £50,000. These changes, effective since September 4, aim to attract customers with higher incomes or savings. Existing Premier account holders will not be affected by the new criteria. HSBC plans to enhance the account with improved customer service and additional benefits. The bank's move aligns with a broader strategy to focus on wealthier clients, as it seeks to offer more tailored services. Other banks, like Barclays and NatWest, have different eligibility requirements for their premier accounts.