HSBC has amended the rates of its mortgage products, sending its variable rate for term deal straight into the Moneyfacts charts after a significant rate cut of 0.80%.
This mortgage now has a variable rate of 2.99% for term at a loan-to-value (LTV) of 85%, which is just above the lowest rate for its sector. A fee of £999 is payable by new customers, while current HSBC customers who already hold a Premier or Advance Account pay a reduced fee of £499.
This deal is available to all borrowers with a deposit of 15%. Those looking to remortgage their properties can benefit from an incentive package of free legal fees, while all borrowers can profit from the option to make overpayments, which grants some welcome repayment flexibility.
The rate cut to this mortgage has sent it straight into the Moneyfacts charts, a move that is sure to attract the notice of borrowers. Remortgagors and those with Advance or Premier Accounts in particular get a competitive deal, with free legal fees for remortgagors and a reduced fee for account holders.
Moneyfacts rating: Excellent
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