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Innovative HSBC mortgage has got talent

Innovative HSBC mortgage has got talent

Category: Mortgages

Updated: 14/12/2012
First Published: 26/04/2010

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 It is now over 6 months old so the content may be out of date.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 proven it's got talent with the launch of a brand spanking new and innovative mortgage deal.

Borrowers can choose a 2 year fixed rate mortgage for either 25%, 50% or 75% of the total amount they wish to borrow, with the balance then having to be taken on a tracker rate with the same interest rate.

Available at 70% and 80% loan-to-value, for borrowers with a deposit of 20%, a rate of 2.99% is payable if three quarters of the amount borrowed is allocated to the tracker rate and the remaining one quarter is fixed.

Alternatively, if three quarters of the amount borrowed is fixed and the other quarter is on the tracker, the rate payable is 3.89%.

A reasonable fee of £999, the option to make unlimited overpayments on the tracker mortgage loan and an incentive package for remortgages, all add to the overall appeal of the product.

Four out of five Moneyfacts stars is its reward.

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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 Any products featured may be withdrawn by their provider or changed at any time.