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Dealing with financial difficulty

Payment support: income and expenditure form

Filling in an Income and Expenditure form can help us understand your current financial position and find the best solution we have available to support you. It’s a series of questions about your income and outgoings (such as salary and mortgage payments/rent) to help us assess your circumstances. The form should only take around 10-15 minutes to complete. Filling the form out won’t impact your credit file. However, depending on your circumstances, some of the solutions we offer may. If this is the case, we’ll let you know.

If you are rolling off a payment holiday or deferral and require further support please see our specific support page for loans and cards, and for mortgages

Who needs to fill out and income and expenditure form?

for credit card payment support, if you’re the main cardholder, you should complete this form
for loan repayment support, if you’re a joint account holder, you’ll also need to complete the partner income section of the form. You only need to complete one form between you – rather than one per named account holder
for mortgage repayment support, if you’re a joint account holder, you’ll also need to complete the partner income section of the form. You only need to complete one form between you – rather than one per named account holder

Completing the form

You’ll need to:

provide basic information about yourself and your current employment status
detail your current monthly income and expenditure information. If you have a joint debt with another HSBC customer, you’ll also have to provide their income and details of any shared household bills
be as precise as you can so we get an accurate view of your current financial position

If you’re signed up to Open Banking, you can save time by selecting to have information from your bank statements and bills pre-populated. If you use mobile banking, this process is best completed on your smartphone.

We’ll summarise your income and expenditure information before you submit the form. At this stage you’ll be able to make edits if you wish to change something.

Once you begin filling out the form, your progress will not be saved if you exit, so you must complete the form in one session.

You’ll only need to do this once, even if you hold multiple products with first direct.

Access the form here.

Alternatively, if you need to speak to us or need support filling out the form, please contact us on 03 456 100 100

What happens next?

Once you’ve submitted the information, we will contact you within 5 working days to let you know what options are available to you. If you require support it’s important to fill out the income and expenditure form as soon as possible. This will give us time to find the right solution for you.

There’s no need to contact us, we’ll keep you informed every step of the way.

What is an Income and expenditure form?

Who is consents.online?

How does Open Banking work?

If you agree to share your information, consents.online will directly obtain your current account information from your account provider and share it with us to assess your current financial position. Find out more about how consents online works Opens an overlay [Will show a security message first].

What do you need and how long does the Open Banking service take?

To use this service, you'll need the username and password you use to log on to your main bank account – this will be the account where you receive your salary and make bill payments from. If you have those details to hand, the sign up process should only take a few minutes. If you use mobile banking, this process is best completed on your phone.

Is Open Banking secure?

Open Banking has put safeguards in place to make it secure. Companies who provide Open Banking services must:

comply with data protection laws

be registered with, or authorised, by the Financial Conduct Authority (FCA)

be registered with the Open Banking Implementation Entity (OBIE) – you can find more information about this by visiting the Opens an overlay [Will show a security message first]OBIE website Opens an overlay [Will show a security message first]. Opens an overlay [Will show a security message first]

Will using Open Banking affect my credit rating?

No, this won’t have an impact on your credit rating

Get free independent advice from:

StepChange Debt Charity: visit their website Opens an overlay [Will show a security message first] or call 0800 138 1111

The Money Advice Service: visit their website Opens an overlay [Will show a security message first] or call 0300 500 5000

National Debtline: visit their website Opens an overlay [Will show a security message first] or call 0808 808 4000

Citizens Advice: visit their website Opens an overlay [Will show a security message first] or call 03 444 111 444

I’ve already missed (or I am worried I am going to miss) a mortgage, loan or credit card payment, or I’m struggling with my overdraft

If you’re concerned about making upcoming payments for your first direct mortgage, loan, credit card - or you’re concerned about being able to afford an overdraft, there is support available.

If you are on, or approaching the end of a period of coronavirus financial support, please see ‘what happens when it ends’.

I have already missed a mortgage, loan or credit card payment

If you have already missed a payment, you’ll need to speak to us as soon as you can. Our dedicated Financial Support team are here to help. Before you call, please make sure you have details of your income and outgoings to hand as we’ll be discussing these with you. You can find these on a bank statement or Online Banking.

For Loan or Credit Card payments call 03 456 100 188

For Mortgage payments call 03 456 100 193.

We’re here Mon to Fri 8am to 6pm and Sat 8am to 4pm.

I'm struggling with my overdraft limit

Overdrafts are only really suitable for short-term borrowing, to tide you over for a bit. Whether you’re struggling with your arranged overdraft, or have found yourself in an unarranged overdraft and are finding it difficult to get back into an arranged limit, you’ll need to speak to us as soon as you can. Our dedicated Financial Support team are here to help. Before you call, please make sure you have details of your income and outgoings to hand as we’ll be discussing these with you. You can find these on a bank statement or Online Banking.

Call 03 456 100 188

We’re here Mon to Fri 8am to 6pm and Sat 8am to 4pm.

Remaining within an unarranged overdraft may adversely affect your credit rating and we may decline payments that you try to make. We will report to Credit Reference Agencies accounts that have been in a continuous unarranged overdraft for 30 or more days, which could negatively affect your credit file and your ability to get credit in the future.

Here are some of the ways we can help

Promise to Pay

If you won’t be able to make an upcoming payment, but will be able to bring your account back up to date within the next 30 days and there are no signs of longer term financial difficulty, we might be able to set up a date for you to make the payment back up.

Select a new date that works, as long as the next payment is:

Before your next loan, mortgage or card payment is due
Within 30 days of going overdrawn
Within 27 days of missing a credit card payment

Request Breathing Space

We can offer you up to 60 days Breathing Space on any unsecured accounts where we won’t contact you (other than regulatory notices). This will give you time to seek the help you need such as contacting a free money advice agency if you choose to work with them. Any missed payments during this time will impact your credit file and may impact your ability to obtain credit in the future.

I'm worried about missing a future mortgage, loan or credit card payment

We want to help. And if you’re worried about your money, the earlier you get in touch and explain what’s happening, the more options there are likely to be. If you are feeling financially stretched and you want to reduce your monthly payments in order to get back on track, explore the following options.

Mortgage Rate switch

If your current fixed rate mortgage is coming to an end, and you're on a first direct Standard Variable Rate, or a tracker rate, we can help you switch to a new first direct mortgage rate. Depending on your circumstances and the interest rate you choose, switching rates may reduce your monthly payment.

Step 1 – Find and compare our current mortgage rates or view all our mortgage rates.

Step 2 – Book an appointment to speak to someone about your options.

To book an appointment, please call us on 03 456 100 173 (lines open Mon to Sat 8am to 8pm and Sun 9am to 8pm).

Mortgage term extension

If you have a repayment loan (rather than an offset loan) extending the term of your mortgage and repaying it over a longer period of time would reduce your monthly mortgage payments.

To see if extending the term of your mortgage is possible, we’ll need to talk through your circumstances. To book an appointment, please call us on 03 456 100 103 (lines open Mon to Sat 8am to 8pm and Sun 9am to 8pm).

Personal Loan

We may be able to offer you a new, or restructured, Personal Loan. This could help make your debt more manageable and affordable.

Our loans are subject to status, affordability and applicable terms and conditions.

How would restructuring your borrowing work?

You apply to replace your existing debts – including credit cards, loans or overdrafts with a Personal Loan
If this is approved, you’re offered an interest rate based on your personal circumstances, the loan amount and term (representative 3.3% APR for loans between £7,000 and £30,000) Credit is subject to status,
You begin making set monthly repayments.

What you need to consider

If you’re applying to use a loan to replace your other debts, it’s important to consider not just the interest rate and monthly repayments, but also the term of the new loan compared to the remaining term of your existing debts.

Spreading your repayments over a longer term could mean you end up paying more overall, even if the interest rate on the new loan is lower than the rate(s) on your current debt.

If you’d like to see an example of what your payments could be, use our calculator.

How to apply

You can apply online here, via our App, or call us on 03 456 100 100.

If, having reviewed the options above, it’s not going to be easy for you to make your monthly payments, there may be other options open to you. Our Financial Support team are here to help you.

Before you call, please make sure you have details of your income and outgoings to hand as we’ll be discussing these with you. These can be found on your bank statement or Online Banking.

For Loan, credit card or overdrafts - call 03 456 100 188

For Mortgages – call 03 456 100 193

We’re here Mon to Fri 8am to 6pm and Sat 8am to 4pm.

I am worried about the debt I am getting into because of my gambling

Visit our Help with debt management page, which has information about who you can get in touch with for impartial advice and to help you to get your debt under control.

You can turn gambling transactions on or off on your debit card using the App. To find out how to do this and for our FAQs see our Gambling support page.

If you need further support

If you're struggling with debts, either with us or with more than one financial organisation, debt charities can provide free, impartial advice. They could help you handle debts with multiple creditors as they may be able to liaise with them on your behalf. We can provide breathing space while you are working with them, which means we won’t expect payment for 60 days. Any missed payments will be reported to credit reference agencies and may make it more difficult for you to obtain credit in the future

Independent help

There are several organisations and charities who can provide free help and give general advice about managing your money. They can also provide assistance on things like benefits or other sources of support. You can find out about free independent money advisers in your area from:

The following helpline services are on hand to provide usefu help and advice: