HSBC Launches its Lowest Ever 2 Year Fixed Rate Mortgage at 1.99%

      HSBC Launches its Lowest Ever 2 Year Fixed Rate Mortgage at 1.99%

  PR Newswire

  LONDON, November 30, 2012

LONDON, November 30, 2012 /PRNewswire/ --

HSBC has responded to growing demand from customers seeking a fixed rate
mortgage by offering its lowest ever two-year fixed rate of 1.99%.

From Friday 30 ^th November 2012, borrowers with a 40% deposit or equity can
secure the rate for a fee of £1,999, or £1,499 for HSBC current account
holders.

Peter Dockar, HSBC Head of Mortgages , said: 'While there remains a low
expectation of bank base rate increasing in the near future, it has been a
week of surprises at the Bank of England and as yet we don't know whether the
new Governor will bring a change of heart within the monetary policy
committee.

'We have seen increasing numbers of customers seeking the security of a fixed
rate and I expect this trend to continue. With the security of our retail
deposit funding, HSBC is committed to offering competitive rates to benefit
our customers.'

Rachel Springall, finance expert at Moneyfacts.co.uk commented: "The HSBC
1.99% deal has the lowest rate for a two-year fixed mortgage on the market and
existing customers will be rewarded with £500 off the booking fee, which is
great to see."

Other HSBC rate changes launched today (30 ^th Nov) include:

2 Year Fixed Rates

  *60% LTV 2 year fixed - 2.49% with £599 fee

5 Year Fixed Rates

  *60% LTV 5 year fixed - 3.19% with £499 fee
  *60% LTV 5 year fixed - 3.39% fee free*

90% LTV

In addition, HSBC continues to offer its current mortgage range for homebuyers
with a 10% deposit including:

  *90% LTV 5 year fixed - 4.69% with £899 fee
  *90% LTV 2 year discount - 3.84% with £999 fee

Notes to Editors

HSBC mortgages are only available directly from HSBC - they are not available
from brokers or any other intermediaries.

* Fee-free means: No booking fee, no standard valuation fee, no
completion fee.

HSBC will cover the cost of one standard valuation where this is required by
HSBC as part of the mortgage application. Additionally, where it is a
straight forward transfer from another lender, HSBC also pays the standard
legal costs.

HSBC Bank plc: HSBC serves 16.1 million customers in the UK and employs
approximately 52,000 people. In the UK, HSBC offers a complete range of
personal, premier and private banking services including bank accounts and
mortgages . It also provides commercial banking for small to medium businesses
and corporate and institutional banking services. HSBC Bank plc is a wholly
owned subsidiary of HSBC Holdings plc.

The HSBC Group: HSBC Holdings plc, the parent company of the HSBC Group, is
headquartered in London. The Group serves customers worldwide from around
7,500 offices in over 80 countries and territories in Europe, the Asia-Pacific
region, North and Latin America, and the Middle East and Africa. With assets
of US$2,556bn at 31 December 2011, HSBC is one of the world's largest banking
and financial services organisations.

Contact: For further information please contact: Suman Hughes,
+44-(0)20-7992-2748, suman.hughes@hsbc.com