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HSBC ditches valuation fees

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  • 11/09/2017
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HSBC ditches valuation fees
HSBC has removed all valuation fees on its mortgages from today.

The lender said the move would provide a consistent approach across its product range and potentially save home buyers hundreds of pounds.

Previous typical HSBC valuation fees were:

  • £173 for property values between £150,001 and £200,000;
  • £227 for property values between £250,001 and £300,000;
  • £281 for property values between £400,001 and £500,000.

 

HSBC UK head of retail products Tracie Pearce said the bank was working to improve the home-buying process for both remortgagors and those purchasing a home.

“Buying a house is a major financial investment, particularly for first-time buyers, so by removing valuation fees and potentially saving them hundreds of pounds we are helping them to keep initial costs down and improving their cashflow, giving them a bit more spending power when they move in,” she said.

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