HSBC introduces low 5 year fixed rate mortgage

HSBC is launching its lowest ever longer term fixed mortgage - a five year deal at 3.95 per cent - as part of its new mortgage range available from today.  The new mortgage deal is available to customers at 60 per cent LTV and has a booking fee of £599.

The new mortgage range also includes a market leading tracker mortgage, which tracks at 1.69 per cent above the Bank of England base rate (currently 2.19 per cent) and has a booking fee of only £99.  The 2.19 per cent tracker rate is available until 15 August only, to customers with at least 40 per cent equity in their homes.  As this rate is likely to be very popular, the payment of the booking fee will secure the rate.

Martijn van der Heijden, head of mortgages at HSBC commented, "These new mortgage deals offer the best of both worlds, our lowest ever five year fixed rate for those customers wanting security, as well as very competitive tracker rates for those preferring flexible payments. Anyone looking to take out our ultra low 2.19% tracker needs to move quickly as it is only guaranteed for two weeks."