The i - New sub-4% mortgage hits market - but here's the catch
HSBC has launched a new sub-4 per cent mortgage, despite many lenders pulling their best deals. However, there is a catch. Customers looking to take advantage of the five-year fix at 3.98 per cent will need an annual income of £100,000 or over and be a Premier customer with the bank.
Aaron Strutt of brokers Trinity Financial said: “While the rate is really good, it is not going to be as widely available to borrowers because of the high minimum income qualification requirement.
“The good news is that HSBC’s move shows the lenders can still offer really cheap mortgages despite the ongoing uncertainty driven by inflation and mixed messaging about the number of base rate cuts we will get this year.”
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