HSBC cuts mortgage rates

HSBC has this week reduced the rates on all its 80 per cent LTV mortgage products in a move to further help homeowners. All the mortgage products, which require only a 20 per cent deposit, have been cut by 0.4 per cent with booking fees remaining at £399 or less.

As part of the new range, HSBC is also introducing a low rate, low fee, 80% LTV 2 year discount mortgage at 2.79 per cent, with a booking fee of only £99.

Martijn van der Heijden, Head of Lending at HSBC commented: "Our 2.79% discount mortgage is designed to help homeowners, many of which are facing a tough time. With just a £99 booking fee, those with a limited budget don't have to fork out a fortune to start saving money".