You are here: Home - Mortgages - First Time Buyer - News -

HSBC launches lowest ever fixed rate mortgage at 0.94%

0
Written by:
06/07/2021
HSBC has launched its lowest ever fixed rate mortgage at 0.94 per cent for buyers with a 40 per cent deposit.

The two-year fixed rate comes with a fee of £999. The rate for the fee-free ‘Feesaver’ equivalent is 1.14 per cent.

The bank has also cut the rates on its two-year 85 per cent and 90 per cent loan-to-value mortgages. Buyers with a 15 per cent deposit can now get 1.99 per cent, with a £999 fee, or 2.29 per cent with no fee.

Those with a 10 per cent deposit can now get 2.49 per cent for two years, again with a £999 product fee.

Doug Miller, director at adviser firm Lansdown Financial Services, said: “While HSBC’s reputation makes me sceptical about who will actually be classed as eligible, this shows the strength of the market at the moment for consumers as banks appear to be entering a rate war following the end of the Stamp Duty madness.

“While the longer five-year deals are still the more popular choice, and rightly so given the current uncertainty and additional costs and hassle of remortgaging every few years, a sub-1% deal will still be hugely attractive to many and I would fully expect more high street lenders to follow suit in the coming weeks.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week