HSBC has made a raft of rate reductions to its mortgage portfolio, the pick of which comes to one of its variable products.
Its Variable Tracker Rate Mortgage up to 80% loan-to-value has seen its rate reduced from 3.39% to 2.99%.
HSBC already has several 'best buy' products at 60% and 90% loan-to-value and this change will see the 2.99% variable deal at 80% qualifying for the same status.
This product offers borrowers a very low rate together with an affordable fee of £399.
Although this is a term deal, there is no early redemption charge and therefore borrowers can take advantage of the low rate whilst having the opportunity to renegotiate their mortgage should market conditions change.
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