HSBC has reduced the price of its five-year fixed rate mortgage by 0.20%, earning it an 'outstanding' rating as a result.
This deal now has a competitive rate of 3.49% - the joint-lowest available for its terms - fixed until 30.11.20. It is available at a loan-to-value (LTV) of 90% and has a fee of £999.
All borrowers with a modest deposit of 10% can apply for this mortgage, while those looking to remortgage their property can benefit from an incentive package of free legal fees. All borrowers can also take advantage of the option to make overpayments.
The rate reduction to this mortgage has upped the ante in terms of competition, something that is certain to be noticed by borrowers with smaller deposits. Remortgagors in particular can benefit from this deal by taking advantage of the offer of free legal fees. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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