HSBC extends the rate matcher mortgage offer
HSBC has extended the rate matcher mortgage offer by 6 weeks, making it available until 29th June 2008. The rate matcher mortgage from HSBC is for UK homeowners whose fixed rate mortgage deal ends before 31st August 2008 and is only available if affordability criteria is met and the maximum loan to value is 80 per cent.
Not suprisingly this has been a very popular mortgage product and as a result HSBC mortgage sales have increased to average a staggering £100 million of new mortgage sales every day, since April.
I’m sure this will come as good news for thousands of people looking for the next best fixed rate mortgage to replace their existing deal. In the current mortgage climate it will surely save thousands of homeowners hundreds, if not thousands of pounds worth of mortgage repayments. For further details and mortgage rates see this post; http://www.thefinancialblog.co.uk/hsbc-offer-new-rate-matcher-mortgage
HSBC head of mortgages, Martijn van der Heijden, said; “Rate Matcher has been exceptionally well received by homeowners. We successfully serviced 37,000 calls in the first four days of the offer and we are continuing to sell almost four times our normal value of mortgages. Importantly, the increase in business has not been at the expense of quality. We have maintained our conservative credit scoring, and have seen the average mortgage equal just 56 per cent of the property it was secured against.
“While the mortgage market remains challenging for borrowers, extending the availability of our Rate Matcher mortgage means we can offer many customers an alternative to significantly higher monthly mortgage payments.”