View more on these topics

HSBC launches 2 month 90% LTV price match offer

Direct-only lender HSBC has launched a range of 90 per cent LTV mortgages that it says will match or beat similar deals offered by other major high street providers.

HSBC-Logo-Branch-Building-700x450.jpg

The offer ends on 3 November and the range aims to match or beat advertised deals offered by rival lenders Barclays, Woolwich, Halifax, Lloyds TSB, Nationwide, NatWest, Royal Bank of Scotland and Santander.

Products include a two-year fix comes in at 3.59 per cent, a five-year fix at 4.39 per cent, lifetime tracker at 3.99 per cent and are all available up to a maximum loan size of £400,000.

All of the products come with fees of £999 for HSBC current account customers and £1,499 for non-HSBC current account holders.

But it says that if a customer has found a better 90 per cent rate with a rival brand then providing it is not a retention deal it will actively match or beat it.

The lender’s results for the first half of 2013 revealed gross lending had fallen 16.4 per cent year-on-year, advancing £6.1bn to mortgage borrowers compared with £7.3bn in the same period a year earlier.

But figures published last week by the Council of Mortgage Lenders for the top 20 biggest lenders in the UK in 2012 revealed HSBC entered the top five after finishing 2011 in sixth place. It increased gross lending from £13.2bn to £16.4bn in 2012 and, as a result, its market share increased from 9.3 per cent to 11.5 per cent.

The lender’s head of mortgages Peter Dockar says: “We have shown our commitment to help first-time buyers and by promising the best rate on the high street we are taking away the hassle out of searching for a mortgage.”

Recommended

Andrew-Montlake-2013-CUTOUT-250x255.jpg

Marketwatch

“More measured than rapid” was the quote from Bank of England Governor Mark Carney when he described the recovery taking hold of the UK as he stuck to his guns on forward guidance. His speech was well-delivered and he reiterated that, slightly contrary to markets, he thought interest rates would stay lower for longer. One […]

David-Finlay-MS-CUTOUT-250x255.jpg

The right blend of quality and quantity

There are a number of scenarios where size isn’t everything. Bigger isn’t always better and in the mortgage world we can often get too absorbed by the numbers game. But when bigger = more choice and flexibility for borrowers then it’s difficult to get away from the fact that this is actually the preferred scenario. […]

Tackling the housing crisis will take more than money

The latest housebuilding figures from the Department for Communities & Local Government confirm the worst fears of many within the property industry. We are failing to address the housing shortage in any meaningful way. Let’s look at the number of housing ‘starts’, new housing projects where work has begun. In England, work has been started […]

Newsletter

News and expert analysis straight to your inbox

Sign up
Comments
  • Post a comment
  • Kay 4th September 2013 at 2:38 pm

    Is this available for Buy-to-let people also?

  • Phil 2nd September 2013 at 4:34 pm

    Does this mean all rival deals to include mutual societies as well such as the Leek and the Furness or only deals from a set panel of lenders?.

    Is this just another gimmick by the HSBC –
    How about improving their mortgage service first instead of gimmicks to get the customers in so they can just cherry pick the best clients