HSBC extends Rate Matcher deal
by Gill Montia
HSBC has extended its Rate Matcher mortgage offer, which will match interest rates on existing and new borrowers’ fixed-rate home loans.
Existing HSBC mortgage customers can fix their mortgage for two, three or five years at their current rate, while for newcomers a two year period has been set.
The deal has been available to existing HSBC borrowers since February and was extended to new applicants from mid-April, originally for a five-week period only.
New customers can now benefit from the offer until the 29th June as long as their fixed-rate mortgage term ends before the 31st August.
They will also need at least 20% of equity in their homes and be able to fulfil various other affordability criteria.
The offer has been extremely popular, increasing HSBC’s mortgage sales by almost 400% year-on-year since it was introduced.
Some customers have been able to match two-year fixed rates as low as 4.54%, although it should be noted that fees apply and are calculated on the size of the loan and agreed interest rate.
The maximum loan available is for £250,000.
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Tags: fixed-rate, HSBC, mortgage, rate matcher
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