HSBC's variable-rate mortgage won the bank the Moneyfacts award for the UK's best value lender in 2004 and Defaqto's cheapest mortgage lender in the country in 2004.
Moneyfacts also rates HSBC as the only high-street bank to make the list of top ten best value lenders.
"Despite increases in the Bank of England base rate pushing the cost of borrowing up last year, HSBC has proved once again that it has the fairest long-term deal on the market," said Samantha Owens, mortgage research editor at Moneyfacts.
She added: "Borrowers need to take this into account, even when taking out short-term deals, as they can get caught out by high standard variable rates once the offer rate has finished."
According to Defaqto's survey, a borrower with a £50,000 interest-only mortgage would have paid £2,638.08 in interest over 2004 with HSBC, more than £580 less than the worst performer in their study.
Head of personal banking at HSBC Clive Wood noted: "It's a myth that all banks are the same and our continued top value spot for mortgages is another step in our efforts to dispel this."To check out some of the best mortgage deals on the web, click here.
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