HSBC Promises to be 'First for First-Time Buyers'
LONDON, September 4, 2013
LONDON, September 4, 2013 /PRNewswire/ --
Bank pledges to offer unbeatable rates on High Street to FTBs
On Monday 2 ^nd September HSBC will launch 'First for First-Time Buyers',
offering unbeatable mortgage rates on the High Street at 90% LTV. ^[ ^1 ^]
The 'Best High Street Mortgage Provider' ^[ ^2 ^] pledges that its range of
90% LTV mortgages will be the lowest on the High Street across two and five
year fixed rate products and lifetime trackers.
The market-leading rates are available from Monday for home buyers with a 10%
deposit. Fees are £999 for HSBC current account customers, non-customers can
open an account and pay the same fee, otherwise fees are £1,499. The new deals
*3.59% 2-year fix - £999 fee (£1,499 fee for non HSBC current account
*4.39% 5-year fix - £999 fee(£1,499 fee as above)
*3.99% lifetime tracker - £999 fee(£1,499 fee as above)
Peter Dockar, HSBC Head of Mortgages, said: "We have consistently shown our
commitment to helping first-time buyers take their first step on the ladder
and by promising the best rate on the high street we are taking away the
hassle out of searching for a mortgage."
HSBC's 'First for First-Time Buyers' interest rates will beat or match 90% LTV
mortgages from other major High Street providers*, however the HSBC fees are
fixed at £999 or £1,499. Although the deals are focused towards first time
buyers, any home buyer requiring 90% LTV can apply.
HSBC continues to offer competitive rates across a range of loan to values,
whether fixed or variable mortgages, for example the following marketing
leading rates are available to borrowers with a 40% deposit:
*1.49% 2-year fixed - £1,999 fee
*1.69% 2-year discount - £1,499 fee
In addition to offering unbeatable rates for first-time buyers, HSBC is
extending its £500 cashback ^[ ^3 ^] offer for remortgage customers.
Notes to Editors
HSBC mortgages are only available directly from HSBC.
^[ ^1 ^] The High Street Specials range will match on sale rates with booking
fees of up to £999 at 90% loan to value (LTV) offered by Barclays, Woolwich,
Halifax, Lloyds TSB, Nationwide, NatWest, Royal Bank of Scotland, Santander
and excludes any of their subsidiaries or other trading names. This
represents 81% of the total mortgage market. Offer applies to like for like
comparisons and rates available at the point of application. The maximum loan
size is £400,000. House purchases only. The promotion will run until 3 ^rd
^[ ^2 ^] HSBC have been awarded Best High Street Mortgage Provider at the
Consumer Moneyfacts Awards for the past four years (2010-2013).
^[ ^3 ^] Existing HSBC mortgage customers only. The mortgage must be drawn
down within 6 months of the date of your mortgage offer. Cashback will be paid
within 40 days of your first monthly payment being made. This offer is limited
to one application per property.
Contact: Emma Fahy, e. firstname.lastname@example.org , t. +44(0)20-7992-1574
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