HSBC has launched a new competitive mortgage range aimed at helping first-time buyers (FTBs) looking to access the property market.
Targeted at borrowers with a ten per cent deposit, the collection includes the lowest-ever seven-year fixed-rate home loan at 90 per cent loan-to-value (LTV) at a rate of 4.89 per cent, which also has no fees to pay for home buyers.
The same rate is also being made available on 90 per cent LTV fixed-rate mortgages for two, three and five years.
Peter Dockar, head of mortgages at HSBC, stated: “We are committed to helping our customers finance their homes – and with the strength of our funding model will continue to support borrowers by offering affordable mortgages.”
Mr Dockar explained the arrangements should offer a helping hand for FTBs in the form of a market-leading rate and no upfront fees.
HSBC has also unveiled a fee-free lifetime tracker rate at 4.49 per cent for FTBs and those moving home with a ten per cent deposit, with all rates being introduced yesterday (September 3rd).
