HSBC reintroduces Rate Matcher deal

| June 5, 2009 | 0 Comments
HSBC reintroduces Rate Matcher deal

HSBC is reintroducing its Rate Matcher mortgage next week.

The offer, which guarantees to match existing mortgage rates for old and new customers, was initially available between February and June of last year and according to the lender, proved to be extremely popular.

A fixed-rate term of up to five years is available for loans of up £250,000 and a maximum loan to value ratio of 75%.

Fees are dependent on the interest rate, length of the fixed period, and loan to value ratio.

The offer will be available for a limited time but comes with a drawdown period of up to six months, once the booking fee is paid.

The bank urges borrowers currently enjoying low standard variable rates to consider making an application before interest rates begin their inevitable rise.

HSBC head of mortgages, Martijn Van Heijden, urges homeowners enjoying exceptionally low mortgage payments to “think ahead now and ask themselves by how much would rates need to rise, to seriously impact their lifestyle?”

He adds: “Our Rate Matcher mortgage gives these borrowers another option and enables them to fix at, or close to, the rate they are currently paying.”

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