HSBC unveils Split Loan Mortgage

HSBC unveils 1.99% mortgage

HSBC is offering a two-year mortgage with a discounted rate of 1.99 per cent, it announced today.
HSBC launches new fixed-rate mortgage

HSBC has responded to plans set out in the Budget to exempt new buyers purchasing properties worth less than £250,000 from stamp duty by launching a new mortgage.

Monday, 26 April 2010 12:00

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.