HSBC launches new fee-free 50% LTV tracker mortgage

HSBC has launched a new tracker mortgage rate in response to demand from customers with more than 50% equity in their homes.

The new fee-free lifetime tracker rate, available from Friday 31st May, is available to HSBC current account customers with a 50% deposit or equity. The rate tracks base rate plus 1.99%, currently 2.49%.
 
In addition, HSBC continues to offer competitive rates across all LTV bands including:
 
60% LTV:
1.75% 2 year discount - £1999 fee
1.89% 2 year fixed - £1999 fee
2.28% lifetime tracker - £1999 fee
2.49% 5-year fixed - £1,999 fee
2.59% 2-year fixed - fee free
.69% lifetime tracker - fee free
 
90% LTV:
3.64% 2-year fixed - £999 fee
3.74% 2-year discount - £999 fee
4.39% 5-year fixed - £999 fee
4.39% lifetime tracker - £899 fee

Peter Dockar, HSBC Head of Mortgages, said: "We are committed to offering our customers competitive rates, including those with smaller deposits. The fee-free 50% LTV rate is in response to demand from our customers; more than half of those taking a 60% LTV product have more than 50% equity in their homes."
 
Fee-free means: No booking fee, no standard valuation fee, no completion fee.
 
HSBC will cover the cost of one standard valuation where this is required by HSBC as part of the mortgage application.  Additionally, where it is a straight forward transfer from another lender, HSBC also pays the standard legal costs.