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HSBC Rate Matcher mortgage returns

04 June 2009 / by Rebecca Sargent
The HSBC Rate Matcher mortgage is making a come back this Monday.

The popular mortgage deal offers to match or beat a borrowers' existing mortgage arrangement, and fix it for up to five years, with interest rates as low as 2.49 per cent.

The HSBC Rate Matcher mortgage is available to all UK homeowners with a maximum mortgage size of £250,000, and is intended to encourage homeowners currently enjoying low standard variable rates, to remortgage before interest rates creep up.

The offer is available for a limited period from Monday June 8, but customers can secure the HSBC mortgage and delay drawdown for up to six months from when they pay the booking fee.

There are three Rate Matcher variable options, which are interest rate, length of fixed period, and loan to value (LTV), all of which will determine the level of fee payable.

Commenting, Martijn Van Heijden, head of mortgages at HSBC said: "With the base rate at its historic low, it's definitely a case of 'when' not 'if' mortgage rates will rise.

"It's in the interest of millions of homeowners enjoying exceptionally low mortgage payments to think ahead now and ask themselves by how much would rates need to rise, to seriously impact their lifestyle. Anyone who would struggle to get by on an interest rate of just four or five per cent should really act now."

Commenting on the Rate Matcher, he added: "One of the reasons floating rate mortgage holders have put off fixing their mortgage is that rates on offer are often two to four per cent higher than what they are currently paying, making it a bitter pill to swallow.

"Our Rate Matcher mortgage gives these borrowers another option and enables them to fix at, or close to, the rate they are currently paying."

The deal is available with a maximum loan to value of 75 per cent.

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