HSBC today (20 April) is launching the lowest ever five-year fixed mortgage rate at 1.99 per cent.
The product is available at 60 per cent loan-to-value (LTV) and has a booking fee of £1,499.
HSBC is also launching a two-year fixed mortgage at a rate of 1.24 per cent, and continues to offer its two year discount rate at 0.99 per cent. Both are available at 60 per cent LTV with a £1,499 fee.
Charlotte Nelson of comparison website Moneyfacts commented:
“This 1.99 per cent deal is the first five-year fixed rate mortgage to be launched below 2 per cent and is the lowest on record that Moneyfacts.co.uk has seen. This deal is likely to be a popular choice for any borrower with the required 40 per cent deposit, and will make a cost effective option over the longer term.”
Tracie Pearce, head of mortgages at HSBC said:
“With mortgage rates lower than they’ve ever been before, we’re proud to introduce the lowest ever five year fixed rate. We’re also offering £1,000 cash back to homebuyers and have refreshed our mortgage range to ensure that homeowners with a smaller deposit have access to our historically low mortgage rates.”
