HSBC is launching a new range of mortgages that includes two, three and five-year fixed-rate mortgages, and a tracker, all at a rate of 5.89%. The UK bank is also offering a discount tracker at 5.59%. These products will be available to new and existing customers, with no extended tie-ins or exit fees.
HSBC is also launching a 10-year fixed-rate mortgage for the first time. The deal, which will only be available online, will have a rate of 5.49% with a GBP499 booking fee. The bank commented that those purchasing the five-year fixed-rate mortgage would save this GBP499 charge.
HSBC commented that premier and bank account plus customers would be eligible for discounted rates on these mortgages. While premier customers will be offered the new range at the lower rate of 5.69% and the discount tracker at 5.39%, plus customers will be offered a rate of 5.69% on the HSBC tracker mortgage.
According to the bank, borrowers taking out a mortgage over GBP200,000 will qualify for the premier service and can take advantage of the discounted rates.
Rob Chesters, head of mortgages at HSBC, commented: HSBC has a reputation for providing mortgages that are transparently priced and offer real long-term value. Our new mortgage range is highly competitive and the HSBC variable rate remains one of the lowest on the market.