HSBC is launching a range of new mortgage deals in the UK for April 2007, which will be available to both new and existing customers. Furthermore, every new HSBC mortgage will be completely fee-free until April 30, 2007.
The offer is available to all HSBC customers taking out a mortgage, homeowner loan or buy-to-let mortgage during April, 2007. The booking fee, standard valuation fee, completion fee and exit fees will all be waived during this offer period.
Rob Chesters, head of mortgages at HSBC said: HSBC has a reputation for providing mortgages that are transparently priced and offer real long-term value and we have therefore taken the decision to be the first UK bank to introduce zero fees on all our mortgages.
Mr Chesters continued: There has been a proliferation of high arrangement fees across the market, which can wipe out the savings made by re-mortgaging, particularly if the fee is wrapped up into the mortgage loan.
However, it’s not just about upfront costs – further borrowing fees, admin fees and duplicate statement fees can all add up. Exit fees, in particular, are difficult for borrowers to compare – but while other lenders have been putting their exit fees up, HSBC’s has remained exactly the same – zero.