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HSBC drops all tracker fees and ERCs

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  • 11/04/2011
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HSBC drops all tracker fees and ERCs
From today until 5 June 2011, all HSBC tracker mortgages will be available with zero fees.

Customers moving to direct channel-only lender HSBC during the bank’s ‘Your Home’ campaign period will not pay booking fees, a standard valuation fee or completion fee.

During the tracker rate term, borrowers can apply to switch from a tracker rate to any fixed rate available, without paying any early repayment charges.

This offer will be available to all customers: remortgagers, first time buyers and homemovers. HSBC will also pay the legal costs involved in transferring the mortgage from their existing lender.

Stuart Beattie, head of mortgages at HSBC, said: “Homeowners are telling us that they are looking for a low cost way to move to a better value mortgage to help with their monthly budgets.

“Our zero fee trackers allow them to reduce monthly outgoings with minimal hassle and cost. Borrowers with a lender which charges no exit fee can switch to a lower rate at no cost at all.”

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