HSBC launches "lowest mortgage rate ever"

Wednesday, 14 January 2009 12:00

HSBC has unveiled a home loan with what it describes as its lowest ever mortgage rate.

The bank has unveiled a new discount mortgage which has a rate of 2.99 per cent - this is 0.95 per cent lower than HSBC's standard variable rate.

It is available to all HSBC Premier customers and will be available at the new low rate from Feb ruary 6th.

Meanwhile, HSBC is also keen to highlight its new range of tracker mortgages which have rates starting at 4.09 per cent for loans of up to 75 per cent.

Martijn van der Heijden, head of Mortgages at HSBC, said the recent cuts in the Bank of England base rate meant it could increase the affordability of its mortgages even further.

He added: "Together with our pledge to double 2007 mortgage lending to £15 billion this year, we hope this new range will demonstrate that those who want a mortgage can get one, and at sensible rates."

HSBC reassured customers that its best buy tracker mortgage, which has a rate at 1.95 per cent above the bank base rate, is still available.

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