HSBC removes all fees on mortgages until end of September

As homeowners struggle to compare mortgages with multiple fees – HSBC simplifies the process by removing all fees until 30 September.

Today HSBC makes its mortgages easier to compare than any other lender by removing all fees on its standard mortgages. This supports HSBC’s stance as a transparent lender and follows on from the bank’s campaign against mortgage exit fees. The home loans are available to both new and existing customers until 30 September.

HSBC’s standard mortgages charge none of these widely incurred fees:

No booking fee
No standard valuation fee
No £30 completion fee
No exit fee
No higher lending charge
No mortgage account servicing fees No mortgage account conduct fees

Rob Chesters, head of mortgages at HSBC said: “With some lenders recently bowing to pressure to scrap their exit fees, HSBC has decided to stay one step ahead by removing all fees on its standard mortgage range until the end of September. This will enhance HSBC’s reputation for providing transparently priced mortgages which offer real long-term value. Sadly some lenders will simply look to rename their exit charge or bump up fees elsewhere, however HSBC customers can rest assured, the rate they see is all they will pay.”

HSBC standard mortgage deals in August and September:

Mortgage Rate
2 year fix 6.69%
3 year fix 6.79%
5 year fix 6.49%
10 year fix 6.39%
Tracker (BBR +0.79%) 6.54%

(All loans based on LTVs of less than 90%. HSBC Plus and Premier customers can access rates between 10 and 20 basis points lower than these standard rates.)

HSBC is also offering three special mortgage deals targeted at customers looking to borrow larger sums and keen to have access to the lowest rates available. Two of these loans carry a booking fee but the reduced interest rate more than compensates for larger borrowers.

Mortgage ‘Specials’:

Mortgage | Fee | Rate
2 year fix | £999 | 6.09%
2 year discount | £999 | 5.64%
Tracker (BBR +0.24%) | £0 | 5.99%

All loans based on LTVs of less than 90%

Tracker only available to remortgaging customers

Rob Chesters continued: “Our new mortgage offers will fill the void of clear and transparent mortgage deals, the market has for too long concentrated on increasing dubious fees to shore up headline rates. Our tracker mortgage combines a highly competitive interest rate with no fees making it a great value formula to finance your home in the long term.”

Home Insurance freeze

In response to the threat of rising home insurance premiums, HSBC is also offering a policy with premiums frozen for 5 years to HSBC mortgage holders between now and 30 September. New or existing mortgage customers can apply for the cover, which also includes £50 cash back.