HSBC also reported its Green Sale mortgage is now sold-out.
Rob Chesters, head of mortgages at HSBC, said: “Our Green Sale mortgage proved to be very popular with the many homeowners spring cleaning their finances this January, selling-out in the first two weeks of the sale.
"Following the recent increase in interest rates, we are pleased to be able to announce immediately our five-year fixed rate mortgage, which comes with a very competitive rate and no booking fee.
"As always, we advise any borrower looking to lock into a fixed rate deal to be careful to check behind the headline rate for hidden fees, charges and extended tie-ins. Exit fees and high arrangement fees charged by some lenders can wipe out the savings made by re-mortgaging so it’s vital to know all the costs associated with your new mortgage before switching.”
The HSBC five-year fixed rate mortgage:
- No booking fee
- No higher lending charge or exit fee
- Available to both new and existing customers
- Free transfer package available for borrowers switching from another lender
- Overpayments of up to 20 per cent per month without penalty
- Fixed rate of 5.55 per cent until March 2012 then reverts to HSBC variable rate currently 6.25 per cent
- Interest charged daily
