HSBC will lend homebuyers up to 6.5 times their salary as banks make larger loans available to customers.

The bank is believed to be the first high street lender to offer mortgages worth more than six times a buyer’s salary since the financial crisis in 2008.

Here, The i Paper takes a look at who this mortgage could be right for and who should avoid it.

Who is eligible for the mortgage?

The loan is available to customers with an HSBC Premier account, which requires annual income of £100,000 or £100,000 in savings of investments with the bank, and at least a 10 per cent deposit.

If your annual income is used to meet the criteria, it must be paid into the Premier account.

There is no fee to open an HSBC Premier account, but you need to be a UK resident and provide one month’s bank

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