HSBC mortgages notes importance of equity
www.moneynews.co.uk > Mortgages > HSBC mortgages notes importance of equity
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HSBC mortgages notes importance of equity
Wed 26th May 2010
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Martijn van der Heijdenm, head of mortgages at the company, made his comments after HSBC released research showing how customers can reduce the interest rate they pay on their home loan by increasing their equity.
By upping the proportion of a property that is paid off, people can break through to a lower loan-to-value bracket and benefit from lower interest rates.
"Whether they have any intention to sell or not, rebuilding the equity in their homes is an essential element in gaining access to lower rates," remarked Mr van der Heijden.
He pointed out this makes the rebound in house prices all the more important as well.
Last month, HSBC mortgages launched its split loan deal, which allows customers to keep part of their loan on a tracker arrangement, while the rest is held at a fixed rate.
Click here for more mortgages news
Related News : Mortgages |
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Related News : HSBC |
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