4 Aug

Homebuyers 'should take advantage of low mortgage offer'

Homebuyers 'should take advantage of low mortgage offer'

HSBC's latest mortgage offer could come as good news for estate agents.

This is because the bank's recently launched five-year fixed-rate mortgage comes with its lowest ever rate - a product which is likely to encourage first time buyers to get their foot on the property ladder.

HSBC's mortgage has a fixed-rate of 3.85 per cent for the first five years on mortgages with 60 per cent loan-to-value, while homebuyers can access rates of 4.89 per cent for its seven-year fixed-rate mortgage.

In addition to this, the financial services provider has also announced that its 2.19 per cent tracker mortgage is available to buy with a reduced fee of £99 for the next two weeks.

The complexity of the mortgage industry has led more people to seek financial advice from mortgage brokers, according to Paragon Mortgages' Financial Adviser Confidence Track survey.

It revealed that 24 per cent of advisers expected to handle ten per cent more mortgage enquiries during the next quarter of 2010.ADNFCR-1222-ID-800012922-ADNFCR

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