Homeowners flock to 1.99% mortgage

| September 18, 2009 | 0 Comments
Homeowners flock to 1.99% mortgage

Homeowners are flocking to HSBC in droves following the launch of the bank’s 1.99% fixed-rate mortgage.

Traffic on HSBC’s mortgage website has doubled since the mortgage was announced, while calls to HSBC call centres have increased 78%.

“Since announcing the 1.99% deal we have seen a huge amount of interest from customers,” said Martijn van der Heijden, HSBC head of mortgages.

Van der Heijden was keen to point out that the bank is not taking advantage of the huge spike in interest by cherry picking customers.

“Although there’s been some unfounded speculation that the deal would be reserved for a minority, in reality well over half the UK’s 11.5 million mortgage holders qualify for the deal,” he said.

“HSBC continues to accept more than seven in ten applicants.”

However, the two-year 1.99% discount mortgage is only available to homeowners with a deposit of at least 40%.

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