HSBC has launched new mortgage products for those with a 10 per cent deposit.
HSBC continues to offer a 2 year discount rate of 3.84 per cent for those with a 90 per cent LTV, with no fees to pay. In addition, for those with a 10 per cent deposit wishing to fix their mortgage payments, HSBC is offering a rate of 4.49 per cent fixed for 2 years (£599 booking fee).
In the first half of 2011, more than one in four loans granted by HSBC was to first time buyers, and the bank intends to continue with this support in 2012. Last month, HSBC committed to make at least £3 billion available to first time buyers this year, estimated to help over 27,000 people hoping to get on the property ladder.
Peter Dockar, head of mortgages at HSBC, said “Owning a home is still an aspiration for many. We will continue helping make that dream a reality with a range of products that assist those with relatively small deposits get onto the property ladder.”
