HSBC reduces best buy two-year fix to 0.94%
This rate has been withdrawn.
HSBC for Intermediaries has lowered the price of its already incredibly cheap two-year fixed-rate mortgages again.
Last week the bank reduced its 0.99% rate to 0.94% as it looks to maintain its lending volumes now the stamp duty holiday has finished.
The 0.94% mortgage is fixed until 31.08.23 and it has a £999 arrangement fee. Applicants will need a 40% deposit to qualify and there is a maximum loan size of £5,000,000. The mortgage is also available on interest-only providing you meet the lender's minimum income requirements.
Aaron Strutt, product director at Trinity Financial, says: "If you are purchasing a property or remortgaging, many borrowers still wonder if it is a good idea to take a two or five-year deal. This really depends on your long term plans and whether you plan to move again in the near future.
"The gap between the cheapest two and five-year fixes is still falling and HSBC's lowest five-year fix is as low as 1.09%. It will probably get better over the coming weeks."
After the fixed period the 0.94% mortgage reverts to HSBC's 3.54% standard variable rate and the overall cost for comparison is 3.2%.
Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation
The information contained within was correct at the time of publication but is subject to change.
Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
