0.99% discount rate for 2 years

HSBC will launch its lowest ever mortgage rate on Monday 20th October. Borrowers with 40% deposit or equity will be able to take advantage of a rate of 0.99% – a 2.95% discount off HSBC’s Standard Variable Rate (SVR).

The ‘Best High Street Mortgage Provider’ [1] also continues to offer its lowest ever 2 year fixed rate mortgage at 1.49%. Both products have a £1,999 booking fee.

Peter Dockar, Head of Mortgages at HSBC, said:

“We know how important a low monthly payment is for borrowers, and are committed to offering market leading rates. We’re the only bank to offer a completely paperless mortgage application and are now leading the way by offering a mortgage of less than 1%. Customers can apply for these rates online, over the phone, in branch or through a broker thanks to our new partnership with Countrywide.”

Sylvia Waycot, Editor of Moneyfacts, said:

HSBC Sign © The Economic Voice“It’s great to see a mortgage offering a rate that, for once, allows consumers to keep more of their money in their own pockets each month, and this new deal from HSBC does just that.”

For borrowers looking for a competitive rate with no fee, HSBC continues to offer its Fee Saver Remortgage Specials [2] range until 30 November 2014. Exclusively available to customers moving their mortgage to HSBC, customers face no booking fee, standard valuation fee2 or completion fee. HSBC will also pay the standard legal fees for any customers transferring their mortgage from their existing lender3.

The Fee Saver Remortgage Specials range includes:

2 Year Fixed Rates:

· 2.19% fixed  – 60% LTV
· 2.29% fixed  – 70% LTV
· 2.69% fixed –  80% LTV

3 Year Fixed Rates:

· 2.69% fixed  – 60% LTV
· 2.89% fixed  – 70% LTV
· 3.29% fixed –  80% LTV

5 Year Fixed Rates:

· 3.19% fixed  – 60% LTV
· 3.39% fixed  – 70% LTV
· 3.79% fixed – 80% LTV

[1] HSBC Mortgage Awards 2014 – HSBC has been awarded Moneysupermarket’s Best Mortgage Provider for the past three years and Moneyfacts’: Best Remortgage Provider (for the last two years), Best Bank Mortgage Provider (the last six years), Best Variable Rate Mortgage Provider 2014 and Best High Street Mortgage Provider (for five years running).

[2] www.newsroom.hsbc.co.uk/press/release/hsbc_introduces_new_fee-free_r

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