HSBC offer new Rate Matcher Mortgage
HSBC will make it’s Rate Matcher mortgage available to every UK homeowner from Monday, 14th April. Applications are subject to affordability criteria and are only available for a limited period of time.
This is great news for remortgagers remortgagers and consumers looking for their first mortgage. For the next 5 weeks HSBC promises to match rates, to a maximum low of 4.54 per cent, for non-HSBC customers for an additional 2 years. Applications will be accepted from customers where their fixed rate mortgage is set to expire before 30th June 2008. Customers must also have a 20 per cent deposit because lendning is limited to 80 per cent LTV (loan to value of the property) and the maximum loan will be £250,000. Customers are advised to visit their local HSBC branch.
There will be a loan fee dependant on the interest rate and size of loan customers want, HSBC estimate that most customers will end up paying around £999 or less - see the HSBC web site next week and check out their fee calculator to see what you might be charged.
Head of Mortgages at HSBC, Martijn Van Der Heijden, said: “Many homeowners are worried about their monthly repayments going up and we can help take away that anxiety. Rate Matcher helps customers plan budgets over the medium term and eases the shock of seeking new borrowing when old rates expire. We’re pleased to be in a position to help.”
If you’re after more than £250,000 you can get theRate Matcher Mortgage for the maximum amount and then take out another HSBC mortgage to top up your required mortgage amount. There are also some new HSBC mortgages availble from next Monday; a 5 year fixed rate mortgage of 5.39 per cent with a fee of £999, a 2 year discount mortgage of 5.43 per cent with a £999 fee and a remortgage lifetime tracker of 5.73 per cent with a £599 fee. These are all very competitive deals given the current financial climate. At last we have some breathing space in the mortgage world, it’s been a long time coming and a breath of fresh air for remortgagers!
Here’s a recap on the HSBC Rate Matcher Mortgage;
- Fix at previous fixed rate for a further two years with HSBC
- Minimum fixed rate is 4.54%
- A fee is payable: 72% of new customers will be charged £999 or less and 57% no more than £599
- Maximum loan size is £250,000, maximum LTV is 80%
- Offer open from 14 April to 18 May 2008
April 11th, 2008 at 2:44 pm
[…] I think that’s it for now but I’ll post back if I spot any more rate cuts…Don’t forget if you’re due to remortgage now or in the next few months get comparing mortgages to find yourself the best deal. HSBC are offering their Rate Matcher Mortgage - if you’re fixed rate is about to come to an end you can switch to HSBC and they will match your existing fixed rate for a further 2 years. There are terms and conditions which apply, like maximum loan of £250,000 and there is a fee payable, which is determined on the amount you borrow and the loan to value. Also you must have a 20 per cent deposit, so maximum loan to value on this product is 80 per cent. For more details see the post; http://www.thefinancialblog.co.uk/hsbc-offer-new-rate-matcher-mortgage/ […]
April 24th, 2008 at 11:25 am
[…] And don’t forget that HSBC are also offering their rate matcher mortgage. This is a good opportunity if you’re comming to the end of an offer period with a fixed rate mortgage HSBC promise to match your old rate, subject to an initial set up fee if you switch to them. It’s certainly well worth investigating and getting a full quote. The lowest fixed rate HSBC will match is 4.54 per cent and this offer is only open until 18th May 2008. I’ve posted about it here; http://www.thefinancialblog.co.uk/hsbc-offer-new-rate-matcher-mortgage/ […]
May 14th, 2008 at 10:47 am
[…] 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 […]