HSBC launches lowest ever 2 year fixed rate mortgage deal Go compare with our comparison table

HSBC launches lowest ever 2 year fixed rate mortgage deal

06 March 2013 / by Isabel Buxton

With borrowers increasingly on the hunt for fixed rates when it comes to mortgage payments, HSBC has responded by launching its lowest ever two, five, seven and ten year fixed rate mortgages. A fixed rate mortgage provides the security of pre-agreed mortgage repayments until an agreed date – no matter what happens to interest rates – making them a popular option for many buyers in these uncertain economic times.

A range of mortgage options

All these rates are fee fee-free for current HSBC account holders or have a £599 booking fee for non-current account holders. The new rates, available now, are open to homebuyers who can provide a 40% deposit, together with a £1999 booking fee. At the end of the fixed rate period, borrowers can either apply for another fixed rate or tracker mortgage, or revert to a variable rate. The rates available include:

• A 2-year fixed rate at 1.79%
• A 5-year fixed rate at 2.78%
• A 7-year fixed rate at 3.49%
• A 10-year fixed rate at 3.99%

Lower rates from a 10% deposit

For those who can’t stretch to such a high deposit, HSBC is also offering competitive mortgage deals. Customers who have a 10% deposit can also benefit from lower rates, such as a 2-year fixed rate at 4.15%, a 5-year fixed rate at 4.65%, or a lifetime tracker at 4.39%. HSBC is also launching its lowest ever two year discount rate at 60% LTV, offering 1.75% with a £1,999 fee. Peter Dockar, HSBC Head of Mortgages, stated that HSBC will “continue to support our customers by offering them competitive rates to help fund their property aspirations.”
 

Latest Mortgage Deals Selection

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Fixed

2.99%

Reverts to 4.70%

5

Years

75%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.20% APRC. This is the cost of the mortgage over the full term.
Fixed

3.09%

Reverts to 4.70%

5

Years

80%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.20% APRC. This is the cost of the mortgage over the full term.

*LTV = Loan to value (how much mortgage you have or require in relation to the value of your property).

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products are a selection of top deals available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you contact our independent mortgage broker team at - independent mortgage broker or call on 0117 332 6063