Borrowers with 40% deposit or equity will be able to take advantage of a rate of 0.99% - a 2.95% discount off HSBC’s Standard Variable Rate. The lender also continues to offer its lowest ever 2 year fixed rate mortgage at 1.49%. Both products have a £1,999 booking fee.
Peter Dockar, Head of Mortgages at HSBC, said:
“We know how important a low monthly payment is for borrowers, and are committed to offering market leading rates. We’re the only bank to offer a completely paperless mortgage application and are now leading the way by offering a mortgage of less than 1%. Customers can apply for these rates online, over the phone, in branch or through a broker thanks to our new partnership with Countrywide.”
Sylvia Waycot, Editor of Moneyfacts, said:
“It’s great to see a mortgage offering a rate that, for once, allows consumers to keep more of their money in their own pockets each month, and this new deal from HSBC does just that.”