HSBC reaches out to first-time buyers

HSBC is introducing new mortgage rates aimed at first-time buyers as part of its new mortgage range which will be available from September 13th.

The new market leading tracker is available at 3.69 per cent above the Bank of England base rate on 90 per cent loan to value LTV.

HSBC has also made a two-year fixed-rate available which has a competitive rate of 5.09 per cent on the same LTV.

Martijn van der Heijden, head of mortgages at HSBC, said that the company is keen to help new and existing customers.

He added: "We think we can reduce the cost of borrowing for most people and we think that's what people are after in these difficult times."

With the stamp duty for first-time buyers being reintroduced at the end of the year it is important for customers to take advantage while they still can.

HSBC is making it even easier for buyers to do this by lowering the fees of its mortgage specials to only £99, thereby alleviating some of the hurdles faced by homebuyers.

In addition to the 90 per cent LTV HSBC is further extending its 2.19 per cent lifetime tracker mortgage until October 31st which has proved very popular. 

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2010-09-09 12:10:25 © Moneyextra.com