HSBC has stormed the long-term fixed-rate market with a ground-breaking five-year rate available to borrowers with existing HSBC current accounts.
This new deal offers a rate of 2.49% to 31.8.18 and has a maximum loan-to-value of 60%.
Purchase and remortgage customers looking to take advantage of this winning rate can borrow up to £250,000. An arrangement fee of £1,999 is payable upfront.
Remortgage borrowers will receive free legal fees, whilst all borrowers can make overpayments of up to 20% of their monthly mortgage repayment.
At a time when mortgage rates are being slashed left, right and centre, this latest offering from HSBC has grabbed headlines for being the first five-year mortgage rate to dip below the 2.50% threshold.
Whilst other deals of the same term offer lower arrangement fees or broader incentive packages, this deal will prove very popular with borrowers with large deposits who are looking for a market-leading rate.
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