HSBC offers market-leading five year fixed rate

HSBC is offering a market-leading five year fixed rate mortgage at 5.17% as part of the HSBC Green Sale. With no booking or exit fees, this mortgage deal is one of the cheapest five year fixed rate mortgages available today.

Mike Oliver, manager of the HSBC Green Sale said: “For the many homeowners spring cleaning their finances this January, anyone looking to re-mortgage should not only seek out a competitive rate, but be careful to check behind the headline rate for hidden fees, charges and extended tie-ins.

“Most borrowers who choose a fixed-rate deal will re-mortgage at the end of the fixed rate period rather than moving to their lender’s standard variable rate. 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 Green Sale five-year fixed rate mortgage

No booking fee (usual £499 fee waived)
No higher lending charge or exit fee
Up to 90% loan-to-value
Available to both new and existing customers
Free transfer package available for borrowers switching from another lender
Overpayments of up to 20% per month without penalty
Fixed rate of 5.17% until 2012 then reverts to HSBC variable rate currently 6.25%
Overall cost for comparison is 6.0% APR
Interest charged daily – the fairest method

HSBC’s annual sale has gone green for 2007 with customers who take advantage of the great deals and discounts on offer also helping a range of environmental charities.

This year, HSBC, which pioneered the first bank sale in 2005, has linked with a number of environmental charities to launch the HSBC Green Sale – another first for a UK bank. For every on-sale product sold, HSBC will contribute £2 to a fund that will be distributed among its charity partners - the Climate Group, Botanic Gardens Conservation International, Earthwatch Institute and ENCAMS, which runs the Keep Britain Tidy campaign.