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HSBC cuts mortgage rates

  • 25/01/2017
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HSBC cuts mortgage rates
HSBC has introduced interest rate reductions of up to 0.30% on fixed-rate mortgages across two, three and five-year deals, the second time in two weeks HSBC has reviewed and lowered its pricing.

Its 85% loan-to-value (LTV) two-year fixed-rate mortgage has been reduced to a market-leading 1.44%, confirmed by Moneyfacts, with a £999 fee.

All five-year products have been cut by up to 0.20% while the majority of two and three-year fixed rates have been lowered by 0.10% and 0.30% respectively

The cuts now mean customers can access a five-year fix up to 60% LTV at 1.79%, down from 1.99%, with a fee of £999.

Tracie Pearce, HSBC’s head of mortgages in the UK, said: “We are committed to offering good value to customers with large or smaller deposits, and when we can improve our rates and make buying a property or remortgaging cheaper we do.

“Fixing a mortgage can give homeowners important certainty and peace of mind, and with the reductions across the two, three and five-year product ranges their homebuying journey has just got a fair bit cheaper and more affordable.”‎

Last week the bank widened its intermediary distribution to include Charles Cameron, Finance Planning Group, First Mortgage and Tenet Lime.

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