HSBC announces top deal on re-mortgage tracker loans

HSBC is offering the best re-mortgage tracker rate of any top ten lender with a 5.98 per cent rate on loans up to 90 per cent LTV for home owners looking to reduce their mortgage payments for Christmas.

HSBC’s Re-mortgage Tracker is available to anyone moving their mortgage to HSBC from another mortgage provider. It offers:

guaranteed 0.23 per cent above Bank of England base rate for the life of the loan, currently 5.75 per cent;
the overall cost for comparison is 6.2 per cent APR;
borrow up to 90 per cent of the property value;
a £599 booking fee is payable;
no early repayment charge or exit fee payable; and
unlimited overpayments allowed.

In addition HSBC has cut its two, three and five year fixed rate mortgages to 6.29 per cent and is also offering a two year discount rate of 5.74 per cent (7.0 per cent APR), reverting to the HSBC’s Standard Variable Rate.

HSBC’s head of mortgages Martijn van der Heijden said: “While other lenders are starting to withdraw their best rates, HSBC is looking to help homeowners with lower interest rates. HSBC’s Re-mortgage Tracker is a great deal, and with one lower rate for two, three and five year fixed rate offers we are giving customers real value and choice while making our line up simpler.”

Customers wanting a tracker can also choose HSBC’s Fee Free Tracker which remains the only product of any lender with the prestigious What Mortgage seal of approval for offering excellent value for money with no catches - no fees at any time and one great rate that tracks base rate for the life of loan.

For more information about HSBC mortgages customers can visit hsbc.co.uk.