HSBC has launched a range of Help to Buy mortgages as part of the Government’s latest Help To Buy scheme, with rates of between 90% and 95% LTV launching later this year.
2 year or 5 year fixed rate mortgages on offer
Mortgages on offer will include a 4.79% 2 year fixed rate or a 4.99% 5 year fixed rate, both of which will require a minimum deposit of £10,000. All 90-95% LTV mortgages will only be sold on an advised basis in HSBC branches and will only be available to borrowers looking to purchase, although the HSBC has hinted that it may include remortgage customers in these deals at a later date.
Help for First Time Buyers
“We want to support our home owning and home buying customers and recognise that particularly for first time buyers, building the necessary deposit can be a real challenge,” said Antonio Simoes, CEO of HSBC in the UK. “HSBC already offers some of the most competitive higher LTV mortgages in the market” he continued, “and currently promise to beat or match rates from our high street competitors at 90% LTV. By participating in Help to Buy, we will go further and offer mortgages up to 95% LTV."
See the table below to compare the latest Help To Buy mortgage deals:
Your home may be repossessed if you do not keep up repayments on your mortgage.
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