New HSBC five-year fixed-rate mortgage enters market
www.moneynews.co.uk > Mortgages > New HSBC five-year fixed-rate mortgage enters market
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New HSBC five-year fixed-rate mortgage enters market
Mon 15th Jan 2007
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No higher lending charge, booking or exit fee will apply to the HSBC five-year fixed-rate mortgage, which will have a fixed interest rate of 5.5 per cent.
The introduction of the new deal comes after the HSBC Green Sale mortgage sold out last week.
"Our Green Sale mortgage proved to be very popular with the many homeowners spring cleaning their finances this January, selling out in the first two weeks of the sale," commented Rob Chesters, head of mortgages at the lender.
The Green Sale, which runs until the end of this month, offers reduced costs on some of the bank's most popular products and services, with a donation made to charity for every product sold.
However, with the Green Sale mortgage sold out, the HSBC five-year fixed-rate mortgage offers a "very competitive" interest rate, according to Mr Chesters.
And he warned those hunting for a home loan deal to check beyond the advertised headline rate that some mortgage providers have hidden fees and charges, as well as extended tie-ins, which could come as a surprise to borrowers.
"Exit fees and high arrangement fees charged by some lenders can wipe out the savings made by remortgaging, so it's vital to know all the costs associated with your new mortgage before switching," he concluded.
Related News : Mortgages |
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Related News : HSBC |
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