In the News - HSBC
HSBC's matching fixed rate deal costs up to £9,999
Arrangement fees for HSBC's matching mortgage deal can be up to £9,999. Reported 'In the News' on 9 April, HSBC's deal offers to match customers existing fixed rate deal. However last week arrangement fees were put up. A 4.79% interest rate with a £250,000 mortgage will incur a £7,699 fee (up from £5,000) and loans of up to £500,000 can incur the highest fee of £9,999. The size of the fee depends on the interest rate and the size of the loan. Those coming off a fixed rate mortgage deal this year will be hit by rising interest rates. Now the average fixed rate deal is over 7%. The HSBC matching deal is designed to help these homeowners, however rising arrangement fees is making the deal less affordable.
(Sources: Times Online Telegraph.co.uk)
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27-Jun-2008 10:10:02
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