HSBC cuts lifetime tracker rate
Wednesday, 12 Sep 2007 13:37
HSBC has cut the interest rate on its fee-free lifetime tracker mortgage.
The deal is being cut by 0.1 per cent to 0.69 per cent above the Bank of England base rate - currently 6.44 per cent.
The mortgage is available at 90 per cent loan to value (LTV) on loans of a minimum of £10,000. It features no set-up fees, no early redemption fees and no exit fees so borrowers can leave or remortgage whenever they choose.
The mortgage was recently commended by What Mortgage, saying it offered "outstandingly good value and flexibility".
Rob Chesters, HSBC head of mortgages, said: "We are delighted our fee-free lifetime tracker mortgage has received What Mortgage's first ever seal of approval, and to celebrate we have lowered the rate on the loan, making it even more attractive to home buyers."
HSBC has also won the Best National Bank title at the What Mortgage Awards for six years running.