HSBC cuts standard mortgage rate

Wednesday, 23, Apr 2008 04:25

HSBC has responded to the Bank of England's interest rate cut earlier in the month by cutting its standard variable rate (SVR).

The move - not related to the security swap deal announced by the Bank earlier this week - will see HSBC's SVR fall from 6.5 per cent to 6.25 per cent.

The cut puts HSBC's variable mortgage rate at least 0.24 per cent lower than Halifax, Nationwide, Abbey, Lloyds TSB and NatWest.

HSBC is also seeing a large increase in business with its offer to match rates on remortgages for those coming off fixed-rate deals willing to fix for two years, a deal which was extended from its own customers to include borrowers with any lender.

The offer is set to close on May 18th.

Other HSBC deals currently on offer include: a five-year fixed-rate mortgage at 5.39 per cent with a £999 fee, a lifetime remortgage tracker at 5.48 per cent with a £599 fee, and a two-year discount mortgage at 5.43 per cent (dropping to 5.18 per cent from May 9th) with a fee of £999.

Remortgage Tracker Fixed Buy To Let First Time Buyer

Company	Mortgage Type	Duration	Initial Rate	Subsequent Rate (Variable)	Overall Cost for Comparison	Apply
	Tracker	Term	2.19%	Base + 1.69% currently 2.2%	2.2% APR
	Borrow up to 60% of the value of your home. Product fee £99
To view this table in full and compare a comprehensive range of mortgage products, visit our compare mortgages pages.

Company	Mortgage Type	Duration	Initial Rate	Subsequent Rate (Variable)	Overall Cost for Comparison	Apply
	Tracker	Term	2.19%	Base + 1.69% currently 2.2%	2.2% APR
	Borrow up to 60% of the value of your home, Product fee £999
To view this table in full and compare a comprehensive range of mortgage products, visit our compare mortgages pages.

Company	Mortgage Type	Duration	Initial Rate	Subsequent Rate (Variable)	Overall Cost for Comparison	Apply
	Fixed	2 years	3.19%	4.24%	4.2% APR
	Borrow up to 70% of house value. Booking fee £495
To view this table in full and compare a comprehensive range of mortgage products, visit our compare mortgages pages.

Company	Mortgage Type	Duration	Initial Rate	Subsequent Rate (Variable)	Overall Cost for Comparison	Apply
	Fixed	until 02/10/2012	5.29%	Base + 2.49% currently 2.99%	3.7% APR
	Borrow up to 60% of the value of your property. Minimum loan £50,000 Maximum loan £1,000,000
To view this table in full and compare a comprehensive range of mortgage products, visit our compare mortgages pages.

Company	Mortgage Type	Duration	Initial Rate	Subsequent Rate (Variable)	Overall Cost for Comparison	Apply
	Tracker	2 years	2.54%	3.50%	3.5% APR
	Borrow up to 75% of the value of your home, Product fee £195
To view this table in full and compare a comprehensive range of mortgage products, visit our compare mortgages pages.