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HSBC promises to be ‘First for First-Time Buyers’

2nd September 2013 Print

HSBC has launched ‘First for First-Time Buyers', offering unbeatable mortgage rates on the High Street at 90% LTV.
The ‘Best High Street Mortgage Provider' pledges that its range of 90% LTV mortgages will be the lowest on the High Street across two and five year fixed rate products and lifetime trackers.
The market-leading rates are available from Monday for home buyers with a 10% deposit. Fees are £999 for HSBC current account customers, non-customers can open an account and pay the same fee, otherwise fees are £1,499. The new deals include:

3.59% 2-year fix - £999 fee (£1,499 fee for non HSBC current account customers)
4.39% 5-year fix - £999 fee  (£1,499 fee as above)
3.99% lifetime tracker - £999 fee  (£1,499 fee as above)
Peter Dockar, HSBC Head of Mortgages, said: "We have consistently shown our commitment to helping first-time buyers take their first step on the ladder and by promising the best rate on the high street we are taking away the hassle out of searching for a mortgage."
HSBC's ‘First for First-Time Buyers' interest rates will beat or match 90% LTV mortgages from other major High Street providers*, however the HSBC fees are fixed at £999 or £1,499. Although the deals are focused towards first time buyers, any home buyer requiring 90% LTV can apply.
HSBC continues to offer competitive rates across a range of loan to values, whether fixed or variable mortgages, for example the following marketing leading rates are available to borrowers with a 40% deposit:

1.49% 2-year fixed -  £1,999 fee
1.69% 2-year discount - £1,499 fee

In addition to offering unbeatable rates for first-time buyers, HSBC is extending its £500 cashback offer for remortgage customers.