24 Feb

Bank introduces new mortgage range

Bank introduces new mortgage range

A new range of long-term fixed-rate mortgage products has been launched by HSBC.

The bank said that it is to introduce two new offerings, a five-year deal at 3.99 per cent and a ten-year mortgage available for 4.98 per cent.

Both products will be available at a maximum loan-to-value (LTV) of 60 per cent, with the five-year deal having a booking fee of £999, while the ten-year mortgage has a £599 fee.

Commenting on the launch, head of mortgages at HSBC Martijn van der Heijden stated: "The clear feedback we have received from customers is that they now want to lock into today's historically low interest rates."

He added that demand for such products is "increasing" as there is little scope left for more rate cuts.

Yesterday also saw Godiva Mortgages launch a new deal, fixed until the end of June 2012 at 4.39 per cent.

It comes with a maximum LTV of 75 per cent and fees totalling £999.

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