HSBC named best value high street lender

06 January 2006
HSBC has been named the best value high street bank for mortgage lending by two industry analysts.

Moneyfacts' mortgage lender survey for 2005 and Defaqto named the bank as the best value high street bank and the best overall lender respectively.

This is the third successive year HSBC has taken out the Moneyfacts' award and the second time it has received the Defaqto accolade.

Carina Kemp head of mortgages at HSBC said: "Once again HSBC has proven that big banks can offer great value. Moneyfacts ranked HSBC a whopping 21 places higher than the next best high street bank – in fact, borrowers with a mortgage at the lowest rated lender are wasting almost £2,000 in annual interest compared to HSBC's offer.

"What's more, HSBC is the only one of the nation's ten largest mortgage lenders to make it into Moneyfacts' top five."

Ms Kemp added that borrowers should think carefully about what they want from their mortgage this year, with further cuts in the Bank of England base rate in the agenda for 2006.

HSBC's January sale mortgage offer includes 50 per cent off the banks fixed rate mortgage paying 2.69 per cent for six months.

The deal is available to new and existing customers purchasing a second property or transferring an existing mortgage from another lender.

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