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HSBC launches 7-year fix up to 90% LTV

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HSBC has announced a seven-year fee-free fixed rate mortgage, to be available up to 90% LTV.

The new product launches today with a rate of 4.89%, and is also available as a two, three and five year fix. The mortgage has no booking fee, standard valuation or completion fee.

HSBC is also offering a fee-free lifetime tracker for first-time buyers and home movers at a rate of 4.49%, this product is also available up to 90% LTV.

All products are sold direct from the lender and are also available to remortgage customers with a booking fee of £599.

Peter Dockar, head of mortgages at HSBC, said: “We have consistently offered competitive rates on our mortgages and these latest products offer first-time buyers the helping hand they need to get onto the property ladder with a market-leading rate and no upfront fees.

“We are committed to helping our customers finance their homes, and with the strength of our funding model will continue to support borrowers by offering affordable mortgages.”

The firm’s online-only banking arm, First Direct, is also launching a new three-year fixed rate mortgage. The product is available at 2.74%, with fees of £1,499, up to 65% LTV.

Ian Bartholomew, senior mortgage product manager at First Direct, commented: “First Direct are recognised as one of the leading providers of offset mortgages in the market and offering a new market leading fixed rate will be great news for borrowers looking for certainty in their payments at a time when other household commitments may be increasing.”

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