HSBC launches reduced rate mortgage range

HSBC has reduced the rates on its entire range of 80 per cent loan-to-value LTV products in a move to offer homeowners the best mortgage rates.

All the mortgage products, which require a 20 per cent deposit, have been cut by 0.4 per cent with booking fees remaining at £399 or less.

A five-year special fixed-rate mortgage is available at a rate of 3.94 per cent for customers putting down 40 per cent equity, with a booking fee of just £99.

As part of the rate reduction HSBC is also launching a low rate, low fee, 80 per cent LTV two-year discount mortgage at 2.79 per cent, with a booking fee of just £99.

Martijn van der Heijden, head of lending at HSBC, commented: "Our 2.79 per cent discount mortgage is designed to help homeowners, many of which are facing a tough time."

He added that the limited product fee of £99 means that borrowers do not have to fork out a lot of money in order to start saving money through the best mortgage rates.

Analysis of the 2009 mortgage lending data recently released by the Council of Mortgage Lenders CML revealed that HSBC is the UK's largest lender of mortgages sold directly to homeowners.
 

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2010-10-06 12:58:09 © Moneyextra.com