In an update to brokers today, the lender set out a timescale for the changes, reducing the window from 180 to 150 days from April, then to 120 days in May and to 90 days from June.

The lender says it is making the changes in three stages to give brokers and their clients time to adjust.

In an email today it says: “To minimise the impact to your customer, we will be making incremental system reductions on our broker platform when keying a Product Switch application.”

The lender says it will provide exact dates in due course.

Since last June, many lenders have been cutting the window from the six months set out under the voluntary Mortgage Charter.

Magni Finance founder Dean Esnard says: “HSBC has followed the trend in reducing product transfer periods, which signals a return to a more ‘normal’ lending market.

“With the expectation that rates are to keep reducing throughout the year, there is not as much demand to lock in six months in advance, so it makes sense to reduce this.

“It will also reduce the lenders administrative work and allow them to focus on improving new business service levels.”