HSBC unveils new low rates for first-time buyers

Friday, 08 November 2013 01:14

HSBC has revised its mortgage deals available to buyers with a 15 per cent or 10 per cent deposit.

The bank has pledged that its range of mortgage deals for 85 and 90 per cent loan-to-value (LTV) mortgage borrowers will be the lowest on the High Street across two and five year fixed rate products and lifetime trackers.

HSBC is offering first-time buyers or homemovers with a 10 per cent deposit a rate of 3.59 per cent on a two-year fixed rate mortgage deal.

For borrowers looking for a longer term fix, its five-year deal has a rate of 4.39 per cent and HSBC also has a lifetime tracker deal at 3.99 per cent.

All of these products charge a fee of £1,499 that is reduced to £999 for HSBC current account customers.

For borrowers with a 15 per cent deposit, the bank offers a rate of 3.19 per cent on a two-year fixed rate mortgage or 3.89 per cent for a five-year fix.

It also offers a lifetime tracker rate of 3.29 per cent. The same fee structure applies.

Peter Dockar, HSBC Head of Mortgages, said “We are passionate about helping borrowers to achieve their aspirations of owning their own home.  Our commitment to our customers is simple – we offer the best mortgage rates on the high street.”


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