HSBC has broadened the terms of its energy efficient homes cashback mortgages of up to £750 from broker-only to also make it available direct to borrowers.

The high street bank’s product, launched last March, provides cashback if a home being bought or remortgaged with an energy performance certificate rating of A or B, in addition to any other cashback available on the chosen mortgage.

This scheme was available on mortgage applications that were only submitted through mortgage brokers only – but the bank has now extended the product to customers applying directly to the lender.

It adds that since its launch, the amount of cashback on these mortgages has lifted from up to £500 to £750 or £1,250 depending on the mortgage being taken, meaning a borrower taking out a mortgage with other cashback elements could now receive up to £1,750 in cashback in total.

HSBC head of mortgages Oli O’Donoghue says: “The introduction of our energy efficient homes cashback mortgage has been very popular, with thousands of homeowners making sustainable choices in addition to having a home with reduced energy bills and benefiting from our cashback incentive.

“We know that some customers prefer to come to us direct and not through a broker, so I am pleased those customers will now also have this cashback mortgage available to them, giving them another reason to make a sustainable choice.”

The move comes as the bank reduces mortgage rates across its range of residential and landlord mortgages.

Reductions include:

• All two-year residential fixes, covering over 250 mortgages, cut by up to 16 basis points
• All five-year residential purchase and remortgage fixes cut by up to 15bps, with the lowest standard rate now at 4.09%, or 4.06% for premier customers
• Existing customer switcher rates reduced by up to 47bps
• Buy-to-let rates for remortgages to the lender cut by up to 23bps