HSBC unveils Split Loan Mortgage
HSBC has launched a new mortgage that lets customers split their loan so part of it carries a fixed rate and the rest comes with a variable rate.
The Split Loan Mortgage allows homeowners to fix 25, 50 or 75 per cent of their loan, with the rest becoming a lifetime tracker product.
Rates will vary depending on how much of the mortgage is fixed and what the loan-to-value is.
Up to £500,000 can be borrowed in total and a booking fee of £999 applies to the product.
Customers can pay the booking fee and draw down the funds at a later point if they wish, with this option being available for up to six months after paying the fee.
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