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New sub-1% mortgage launches as rate war heats up

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10/08/2021
HSBC has become the latest lender to unveil a sub-1% mortgage with a two-year fix at 0.89%.

The offer, which the bank says is its lowest ever fixed rate deal, requires a deposit of 40% and comes with a £999 fee.

The five-year alternative has a rate of 0.99%.

Lenders have been slashing rates in recent weeks, with several sub-1% deals coming to market.

Yesterday, Halifax launched a two-year fixed rate at 0.83 per cent for borrowers with a 40% deposit. It comes with a fee of £1,499 and is available through brokers only.

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