In the News - HSBC
HSBC to match existing fixed rate mortgage deals
HSBC is bucking the trend in the mortgage market by offering to match homeowners' existing mortgage deals. HSBC is targeting the 1.4 million customers who are coming off fixed rate deals this year and is offering to match their existing fixed rate deal. This includes borrowers on rates as low as 4.54% for a further two years. HSBC (the largest bank in the UK) only has 3% of the UK mortgage market and is gearing up for a significant uplift in demand from their matching deal. This is contrary to First Direct's (owned by HSBC) decision to stop accepting new mortgages (reported 'In the News' 2 April). It also bucks the trend of other mortgage providers who are reducing the size of mortgages (reported 'In the News' 8 April).
HSBC's deal will be available to new HSBC customers for five weeks, it is only available for those coming off a fixed rate deal, borrowers will need at least 20% equity in their property and their will be a maximum arrangement fee of £999.
(Sources: Times Online FT.com)
Rate these businesses/organisations:
- HSBC Bank PLC (-0.93
) - First Direct (2.27
)
Post to: Digg | Del.icio.us | Stumbleupon | Reddit | Facebook | Newsvine
09-Apr-2008 09:46:12
Sign up to Plebble's RSS feed here to keep up to date on all the latest stories.
