Following its eight per cent Regular Saver, a 40 per cent cut in loan rates and the first free price promise insurance, all of which are available to existing HSBC customers, the bank has launched six new fixed-rate mortgages all of which are available to existing customers and three of which are exclusively so.
The new mortgages, which are now available, include:
* a rate of 4.99 per cent available for two, three or five years for existing or new customers.
* even lower fixed rates of 4.79 per cent, again for two, three or five years, only for HSBC Premier customers.
* long-term value - after the fixed rate period the mortgage reverts to HSBCs Home Buyer (variable) mortgage rate, now just 5.5 per cent after the recent base rate cut and described by Moneyfacts as the best value long-term mortgage in the market.
* no higher lending charges even at 95 per cent LTV (or 100 per cent for graduates)
* no exit fee - in a climate when other lenders are charging as much as £295.
Carina Kemp, HSBCs head of home buying said: "Too often the best mortgage deals are aimed at pulling in new customers while loyal, existing customers are left to languish on poor-value standard variable rates. At HSBC we do things differently. All of these rates are available to existing customers, and three of the six are only available to existing HSBC customers. And,
because of our guarantee to never exceed base rate by more than one per cent, all our customers can feel comfortable that their rate will stay good value even in the longer term.
"First-time buyers also get a free valuation, there is no redemption penalty after the fixed rate period and, like all HSBC mortgages, there is no exit fee and no costly higher lending charge to pay - even with lending of 95 per cent loan-to-value. And our five-year fixed rate is the cheapest five-year
fix, without higher lending charges or exit fees, offered by any top ten lender."
