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HSBC cuts rates on deals up to 80 per cent LTV

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  • 30/04/2020
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HSBC cuts rates on deals up to 80 per cent LTV
HSBC has cut rates on selected mortgage deals across its 60 per cent to 80 per cent loan to value (LTV) ranges.

 

Highlights of the rate cuts include:

• Two-year fixed rate at 60 per cent LTV, £999 fee, cut by 0.05 per cent to 1.19 per cent. The zero fee equivalent is now 1.49 per cent.
• Five-year fixed rate at 60 per cent LTV with no fee, reduced by 0.05 per cent to 1.59 per cent.
• Five-year fixed rate at 80 per cent LTV with no fee, reduced by 0.10 per cent to 1.89 per cent.

HSBC UK head of buying a home Michelle Andrews said: “While the purchase of properties has understandably slowed, time marches on for those who are on a fixed-rate deal.

“Many homeowners will have taken out their mortgage or remortgaged in the spring and their deal is now up for renewal, or they risk moving onto a higher standard variable rate mortgage.”

Andrews added that borrowers should take a close look at how the additional cost of moving onto a standard variable rate could impact their finances.

 

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