HSBC to pass on BoE rate cut

HSBC Mortgage Rates today


couple billsGETTY

HSBC has launched a record low mortgage rate

HSBC has launched the 0.99 per cent two-year loan to buyers or owners looking to remortgage with equity of at least 35 per cent.

The bank is among a spate of providers to chop costs in recent weeks, as a Bank of England rate rise looks to be firmly off the agenda in the near future.

Homeowners have been now urged to check if they can cut their mortgage bills down to size with a better deal.

HSBC's latest offering would give monthly repayments of just £565 on a £150, 000 loan, and customers can also overpay by up to 10 per cent a year.

Related articles

Home owners should check if they can remortgage to a cheaper deal

Tracie Pearce, HSBC's head of mortgages in the UK, said: ‘’For customers purchasing a new home, coming to an end of a fixed rate deal or already on a Standard Variable Rate, this is an ideal opportunity to take advantage of a great value product with the security of knowing that payments will not increase over the next two years.”

However, the product comes with a large fee of £1, 499, meaning it could be cheaper over the two year term to opt for a loan with a slightly higher rate but lower fee.

Rachel Springall, finance expert at Moneyfacts.co.uk, said: "As with any deal, applicants should always work out the true cost of the mortgage to decide whether it’s right for them.

“Borrowers would be wise to take advantage of the option to overpay their mortgage whilst interest rates remain so low, this way they can increase the amount of equity in their home and reduce the term of the loan.”

couple


Share this article





Related Posts



Latest Posts
Home Mortgage loan types
Home Mortgage…
The borrower only pays the interest on…
5 years mortgage fixed rate
5 years mortgage…
This calculator helps you compare a fixed…
Lowest five Year fixed rate mortgage
Lowest five Year…
Great news for Canadian home buyers:…
Excel USA
Excel USA
The day began with Kirkwood starting…
20 Year fixed Rates
20 Year fixed…
So you wanna refinance or lock in to…
Search
Featured posts
  • Lowest 30 Year Mortgage Rates today
  • Best 30 Year Mortgage Rates Today
  • Lowest 30 Year fixed mortgage Rates Today
  • 20 Year fixed rate mortgage Rates Today
  • 10 Yr fixed mortgage Rates Today
  • Mortgage Rates Today 10 Year fixed
  • HSBC mortgage rates UK
  • Who has the lowest mortgage rates today?
  • 30 Year Mortgage Rates today
Copyright © 2023 l www.scarredforlife.info. All rights reserved.