16
Aug
Homebuyers 'should take advantage of new low-rate mortgage'
People looking to finance their upcoming property purchase have
been encouraged to check out the latest offer from HSBC.
The financial services company has announced it will extend its
low-rate 2.19 per cent lifetime tracker mortgage beyond the initial
two week offer.
It stated that the extension is intended to enable more people
looking for houses for sale in the UK to apply for it.
The deal comes for mortgages with a maximum of 60 per cent
loan-to-value and is currently the lowest in the marketplace at
1.68 per cent over the Bank of England base rate of 0.5 per
cent.
HSBC's head of mortgages Martijin van der Heijden said: "Borrowers
can take advantage of the low rate now and once base rates start to
rise, switch into a fixed rate with no exit or redemption
charges."
He added that the deal has "captured the interest of a huge number
of customers".
Ray Boulger from mortgage adviser John Charcol said that more
people are opting for fixed-rate loans now as the gap with tracker
mortgages has narrowed.