There could be good news for aspiring first time buyers as HSBC launches a range of 90% loan-to-value (LTV) mortgages this month. The new range includes a 2 year fixed rate at 3.59% and a five-year fixed rate at at 4.39%.
What’s more, for a limited time only, HSBC has offered to beat the equivalent offers from eight other high street contenders HSBC claims that under its ‘First for First-Time Buyers’ initiative, they will beat or match the 90% LTV offers from eight other major high street brands: Barclays, Woolwich, Halifax, Lloyds TSB, Nationwide, NatWest, Royal Bank of Scotland and Santander (but not any of their subsidiaries).
Offers on 2 year, 5 year and tracker mortgages
This offer applies to 2 and 5 year fixed rate deals, as well as to lifetime tracker mortgages for buyers with a 10% deposit. Fees are £999 for HSBC current account customers and £1,499 for non-customers – although non-customers do have the option to open an HSBC current account and pay the same fee.
However, there are a few caveats – this offer, which runs until 3rd November 2013, only applies provided that the rival deals don't charge a booking fee of more than £999. In addition, the offer excludes any subsidiaries or other trading names of the eight providers mentioned above, and the maximum loan available is £400,000.
See the table below for a selection of the latest mortgage deals for first time buyers >>
This article aims to give information, not advice. Always do your own research, and/or seek out advice from a regulated broker, before acting on anything contained in this article. Your home or property may be repossessed if you do not keep up repayments on your mortgage.
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