16 Aug

Homebuyers 'should take advantage of new low-rate mortgage'

Homebuyers 'should take advantage of new low-rate mortgage'

People looking to finance their upcoming property purchase have been encouraged to check out the latest offer from HSBC.

The financial services company has announced it will extend its low-rate 2.19 per cent lifetime tracker mortgage beyond the initial two week offer.

It stated that the extension is intended to enable more people looking for houses for sale in the UK to apply for it.

The deal comes for mortgages with a maximum of 60 per cent loan-to-value and is currently the lowest in the marketplace at 1.68 per cent over the Bank of England base rate of 0.5 per cent.

HSBC's head of mortgages Martijin van der Heijden said: "Borrowers can take advantage of the low rate now and once base rates start to rise, switch into a fixed rate with no exit or redemption charges."

He added that the deal has "captured the interest of a huge number of customers".

Ray Boulger from mortgage adviser John Charcol said that more people are opting for fixed-rate loans now as the gap with tracker mortgages has narrowed.ADNFCR-1222-ID-800027018-ADNFCR

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