HSBC has launched a new fixed rate mortgage that should greatly appeal to those with a 10% deposit.
The new Fixed Rate Mortgage offers a rate of 4.99% to 28 February 2013, a maximum loan-to-value of 90% and a fee of £99.
Those remortgaging will have the added benefit of free legal fees.
The cut of 0.10% to 4.99% now makes this the top rate in this market.
The fee of £99 remains which will greatly benefit its target audience who will have limited set-up funds. It does lack incentives for house purchase customers but the low rate/low fee combination will make up for this shortfall.
The full complement of five out of five Moneyfacts stars has been awarded.
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