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.
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.
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.
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
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