‘Outstanding’ mortgage gets rate cut | Product News - Moneyfacts

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‘Outstanding’ mortgage gets rate cut

‘Outstanding’ mortgage gets rate cut

Category: Mortgages
Date: 12/02/2016

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

HSBC has reduced the rate on its two-year fixed mortgage by 0.10%, cementing its place on the Moneyfacts charts and earning it the top accolade in the process.

The basics…

This mortgage now has a highly attractive rate of 2.09% fixed until 30.4.18, the lowest rate currently offered in its sector. It is available at 90% loan-to-value (LTV) and has a fee of £1,499.

The finer details…

All borrowers with a modest deposit of 10% are welcome to apply for this mortgage, which comes with an incentive package of free legal fees for remortgagors. Borrowers are also welcome to make overpayments of up to 20% of the mortgage payment every month, thereby giving them the opportunity to reduce their mortgage balance.

Why we like it…

By reducing the rate on this deal, HSBC has ensured that it will gain attention. It now boasts the lowest rate in its sector, which is a selling point in itself, but it also gives remortgage customers the added bonus of free legal fees while also allowing all borrowers to make regular overpayments. As a result, this product fully deserves the highest Moneyfacts rating.

Moneyfacts rating: Outstanding

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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