HSBC extends cheap mortgage offer

HSBC has announced it will be extending the two week offer period for its low rate, low fee, lifetime tracker mortgage to allow more people to apply for it.

The lifetime tracker mortgage, which is currently the lowest in the market at 1.69 per cent over the Bank of England base rate, with a £99 booking fee, has captured the interest of a large number of customers.

The first two weeks in August, which are traditionally a quiet period for mortgage sales, have been the busiest weeks HSBC has had this year after enquiries increased by 250 per cent.

Martijn van der Heijden, HSBC's head of mortgages, said: "The low costs together with no tie-ins has proved a real winner, borrowers can take advantage of the low rate now and once the base rate starts to rise, switch into a fixed rate with no exit or redemption charges."

With the Bank of England's Monetary Policy Committee voting to keep interest rates at 0.5 per cent earlier this month and HSBC forecasting no increase in the near future it is expected that people will continue to take advantage of the extremely low tracker rates available.
 

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2010-08-18 15:07:59 © Moneyextra.com